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What are the factors of production and explain the allocation of resources
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What are the factors of production and explain the allocation of resources

User Abeikverdi
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Answer:

Factors of Production Definition

The factors of production are land, labor, capital, and entrepreneurship. ... Since these factors are limited by nature, and human wants are unlimited, we, as a country, face a shared decision over the efficient allocation of these scarce resources or factors of production

User Sameer Chaudhari
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The factors of production are land, labor, capital, and entrepreneurship. To put it in different terms, the factors of production are the inputs needed for supply. Hope this helps!
User Eedrah
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