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Why land labor and capital are important as the factors of production?

Updated: 8/22/2023

Wiki User

∙ 9y ago

Best Answer

There are four factors of production: Land,labour,capital and enterprise(risk).

Wiki User

∙ 14y ago

This answer is:

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Wiki User

∙ 13y ago

It is intended to represent the contribution to production of nonhuman resources as found in their original, unimproved form.

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Wiki User

∙ 13y ago

Agriculture, mineral extraction (mining) residence site and transportation.

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What are the five factors of production?

The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources

Define factors of production?

Factors of production are the inputs for the production process. Three basic factors of production are land, labor, capital and entrepreneurship.

What are land labor capital and entrepreneurs?

Ze factors of production

Is labor and capital the only two factors of production?

False

What are three factors of production?

Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.

Related questions

What are the five factors of production?

The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources

Define factors of production?

Factors of production are the inputs for the production process. Three basic factors of production are land, labor, capital and entrepreneurship.

What are land labor capital and entrepreneurs?

Ze factors of production

Which are the three basic factors of production?

Land, Labor, and Capital.

Is labor and capital the only two factors of production?

False

Factors of production and its rewards?

land labor capital entrepreneur

What are three factors of production?

Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.

What were the three factors of production required to drive the Industrial Revolution?

What were three factors of production required to drive the industrial revolution? that is not an answer the answer is: Land, labor, and capital _______________ that is correct, thanks

What factors of production for this country?

natural resources labor capital entreprenuership

Four basic factors of production?

Land, labor, capital, and entrepreneurship.

What is land and natural resources labor capital and entrepreneurship?

Factors of Production

Factors of production history?

Factors of production are essential conditions or resources that favor economic production, and include land, labor, entrepreneurship, and capital.

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