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      Question

      What are the factors of

      production?
      A Land Correct Answer Incorrect Answer
      B Labour Correct Answer Incorrect Answer
      C Capital Correct Answer Incorrect Answer
      D All of these Correct Answer Incorrect Answer

      Solution

      Factors of production refer to the resources or inputs used in the process of producing goods and services. They include: A. Land: This includes all natural resources used to produce goods and services, such as soil, water, minerals, and forests. B. Labour: It represents the human effort and skill directed towards producing goods and services. C. Capital: This includes physical capital (machinery, tools, buildings) and financial capital (money) used in the production process.

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