Explain any three main requirements for production of goods and servic

1.	Explain any three main requirements for production of goods and services?
Answer» Answer: The four requirements of production of goods and services are LAND, labor, PHYSICAL capital and human capital. Land is the physical PLACE where all the economic activity takes place. Land PLAYS an important part in production because land itself and the resources on it are USUALLY limited.

Explain any three main requirements for production of goods and services?

Answer»

Answer:

The four requirements of production of goods and services are LAND, labor, PHYSICAL capital and human capital.

Land is the physical PLACE where all the economic activity takes place.

Land PLAYS an important part in production because land itself and the resources on it are USUALLY limited.