CLASSIFICATION OF FACTORS OF PRODUCTION.docx - CLASSIFICATION OF FACTORS OF PRODUCTION The Factors of Production are classified into four main

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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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