What are the four factors of production that an economy needs in order to produce something?

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asked May 20, 2023 168k views

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Sagar Naliyapara · Answer 1 · 2023-05-25T21:00:47+0000

Answer:

Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.

What are the four factors of production that an economy needs in order to produce something?

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