GENERAL KNOWLEDGE

Detailed explanation-1: -Land includes any natural resource used to produce goods and services; anything that comes from the land. Some common land or natural resources are water, oil, copper, natural gas, coal, and forests. Land resources are the raw materials in the production process.

Detailed explanation-2: -There are four factors of production-land, labor, capital, and entrepreneurship.

Detailed explanation-3: -Simply put, resources are the inputs used to produce outputs (goods and/or services). Resources are also called factors of production. What makes something a resource? For one thing, it needs to be productive.

Detailed explanation-4: -Physical Capital. Land. Human Capital. Labour.