WORLD HISTORY

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: -Land as a factor of production includes all fixed natural resources like soil, water, air, forest, coal and so on that are available on land.

Detailed explanation-3: -The production process is defined as the process in which the factors of production, i.e. inputs of resources, are turned into products or services. Factors of production means capital, labour, technology, land, and other resources that are used to create output, or goods and services.

Detailed explanation-4: -labor productivity or income streams. (Getty Images) 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-5: -The main requirements for the production of goods and services are land, labor, physical capital, and human capital.

Detailed explanation-6: -The 4 Factors of Production There are four factors of production-land, labor, capital, and entrepreneurship.