CLASSIFICATION OF
FACTORS OF
PRODUCTION
The Factors of Production are classified into
four main categories:
1
Land:
The term includes all types of
natural resources such as land, forests,
minerals, et cetera.
2
Labour:
By
labour
is meant all human
resources, both physical and mental, used
in the production process.
3
Capital:
It is defined as the man-made or
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- Fall '17
- Jogh Doe
- English, Et Cetera
