What is factors of production?

Question

any history people here? what is that?

Answer 1

this is economics. there are four factors of production also known as resources: land, labour, capital and entrepreneur

land is everything above and below the surface of the earth. income from land is rent.

labour is a human factor, it is physical and mental work of the humans that is helpful. income of labour is wages

capital is that resource which indirectly fulfills wants. it does not fulfill wants itself rather it makes things that fulfills wants. the wear and tear of capital is known as depreciation

entrepreneur is also a human factor, his major role is to make decisions and if his decisions are good he is rewarded with profits and if not good he faces losses.

Answer 2

I don't know about history but in economics the factors of production are: land, labor, capital, and entrepreneurship. It might work for history too actually! :)