GENERAL KNOWLEDGE

Detailed explanation-1: -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-2: -The factors of production are the inputs used to produce a good or service in order to produce income. Economists define four factors of production: land, labor, capital and entrepreneurship. These can be considered the building blocks of an economy.

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

Detailed explanation-4: -The four factors of production are land, labor, capital and entrepreneurship. These factors influence economic growth, innovation and consumer habits. In a capitalistic economy, profit is the focus when selecting which factors of production are most important to an entrepreneur.

Detailed explanation-5: -Economists traditionally divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Land refers to natural resources, labor refers to work effort, and capital is anything made that is used to make something else.