describe production factors prevailed in palampur
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These factors of production are as follow:
1. Land- Land and other natural resources
2. Labour- the people who do the work
3. Market- The healthy competition
4. Capital—Investment required in the business and the various inputs required at every stage.
Answer:
Factors of production are the resources that help to produce goods and services. For example, Land, Labour, Market, Capital are the main factors of production.
Explanation:
There are four factors of production
There are four factors of production which are prevailed in Palampur.
These factors of production are as follow:
Land- Land and other natural resources.
Labour- the people who do the work.
Market- The healthy competition.
Capital—Investment required in the business and the various inputs required at every stage.