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Economics miscellaneous

  1. The four factors of production are
    1. land, labour, capital, organisation,
    2. land, electricity, water, labour
    3. labour, capital, land, rainfall,
    4. labour, climate, land, tools,
Correct Option: A

Factors of Production is an economic term to describe the inputs that are used in the production of goods or services in the attempt to make an economic profit. Resources required for generation of goods or services, generally classified into four major groups: (i) Land (including all natural resources), (ii) Labor
(including all human resources), (iii) Capital (including all man-made resources), and (iv) Enterprise (which brings all the previous resources together for production).



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