What are the different factors of production for any good or service? – InterviewSolution

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1.

What are the different factors of production for any good or service?

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Ans:The DIFFERENT factors of PRODUCTION for goods are Land, Labour and Capital.

1) Land: This factor includes NATURAL resources like land,water,etc which are used to produce goods.

2) Labour:Labour includes persons that contribute to produce goods.

3) Capital:Capital includes machines which HELP in producing goods.

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