Explain the four factors of production in palampur

1.	Explain the four factors of production in palampur
Answer» Answer: I) land :-- land is the first requirment. ii) labour :-- we need TWO types of labourers 1. skilled labour :- artitecture 2. UNSKILLED labour:- who can do casual work. iii) physical capital 1. fixed capital :- capital which is invested by the company. ex.. TOOLS, machinery and buildings 2. working capital :- capital which is used by the company. ex.. raw materials and money iv) human capital :-- human are very knowledgeable.

Answer»

Answer:

I) land :-- land is the first requirment.

ii) labour :-- we need TWO types of labourers

1. skilled labour :- artitecture

2. UNSKILLED labour:- who can do casual work.

iii) physical capital

1. fixed capital :- capital which is invested by the company.

ex.. TOOLS, machinery and buildings

2. working capital :- capital which is used by the company.

ex.. raw materials and money

iv) human capital :-- human are very knowledgeable.

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