Answer :
Factors of production are the resources people use to produce goods and services.
The factors of production is divided into four categories.
- Land
The land is an important factor for cultivation. As vast as tge land will be, the production will be more because large land provide multiple cropping etc.
- Labour
Unskilled, Semi - Skilled and Skilled labours are main factors. There is aboundance of labour in nature.
- Capital
For starting up any business you need money to invest. This is what we mean by capital.
- Human Capital
Last but not the least, most important capital amongst all is Human Capital because to arrange all these things we need a human to arrange in a specific way.