Question 11 Mark
The factors of production are land, labour, capital and literacy rate. (True/False).
Answer
View full question & answer→False.
Explanation:
Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit. These include any resource needed for the creation of a good or service. The factors of production include land, labor, capital, and entrepreneurship.
Explanation:
Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit. These include any resource needed for the creation of a good or service. The factors of production include land, labor, capital, and entrepreneurship.