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प्रश्न
What are the four basic factors of production?
उत्तर
Economists classify factors of production into four main categories. These are land, labour, capital and enterprises or organizations.
संबंधित प्रश्न
Explain time utility with an example.
Choose the correct term for the given definition. 'An activity which creates an economic value'.
Identify the incorrect statement from the following:
A farmer in Punjab transports wheat from the farm to a flour mill. Is this activity considered as production? Why?
What do you mean by factors of production?
According to 'Adam Smith' production means production of material goods only.
Choose the correct term for the given definition.
Any activity which creates present and future utility.
Explain the meaning of production.
With the help of an example, explain the process of creation of form utility.
State three factors on which production depends.
