CHILD DEVELOPMENT PEDAGOGY

Detailed explanation-1: -According to economic theory, there are four main factors of production-land, labour, capital, and entrepreneurship. In the given options, first three are the factors of production while the fourth option of Product is not the main factor of production.

Detailed explanation-2: -To that end, technology-like money-is a facilitator of the factors of production. The introduction of technology into a labor or capital process makes it more efficient. For example, the use of robots in manufacturing has the potential to improve productivity and output.

Detailed explanation-3: -Economists define four factors of production: land, labor, capital and entrepreneurship.

Detailed explanation-4: -Money is not considered as a factor of production. Money is medium of exchange and hence it cannot help to increase the productivity of an economy like other factors of production, thus the factors of production are Land, Labour, Capital and Entrepreneurship.

Detailed explanation-5: -Servicing is not a factor of a production process. The 4 factors of a production process includes: land, labour, capital and organization.