Explain any three main requirements for production of goods and servic

1.	Explain any three main requirements for production of goods and services?
Answer» <html><body><p><strong>Answer:</strong></p><p>The four requirements of production of goods and services are <a href="https://interviewquestions.tuteehub.com/tag/land-539118" style="font-weight:bold;" target="_blank" title="Click to know more about LAND">LAND</a>, labor, <a href="https://interviewquestions.tuteehub.com/tag/physical-600035" style="font-weight:bold;" target="_blank" title="Click to know more about PHYSICAL">PHYSICAL</a> capital and human capital. </p><p>Land is the physical <a href="https://interviewquestions.tuteehub.com/tag/place-1155224" style="font-weight:bold;" target="_blank" title="Click to know more about PLACE">PLACE</a> where all the economic activity takes place. </p><p>Land <a href="https://interviewquestions.tuteehub.com/tag/plays-1156645" style="font-weight:bold;" target="_blank" title="Click to know more about PLAYS">PLAYS</a> an important part in production because land itself and the resources on it are <a href="https://interviewquestions.tuteehub.com/tag/usually-722248" style="font-weight:bold;" target="_blank" title="Click to know more about USUALLY">USUALLY</a> limited.</p></body></html>

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