Factors of production are land, labour, capital and enterprise. These are essential inputs to produce goods and services. Natural resources fall under “land”, contributing to the overall economic activity and growth.
Class 8 NCERT Social Science India and the World: Land and the People Chapter 1 Natural Resources and Their Use
Class 8 Social Science Exploring Society: India and Beyond Part 1 Solution
Factors of production include four key elements: land (natural resources), labour (human effort), capital (tools, machines) and enterprise (organisation and risk-taking). These elements combine to create goods and services. Land includes forests, minerals, water and sunlight. Without these, no production is possible. Each factor supports others—labour works on land using capital, guided by enterprise. Their balance is essential for efficient and sustainable production.
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