Answer:
The
four main requirements for the production of goods and services are The first
requirement is land and other natural resources.
(ii) The second is labour i.e., people who carry out the work for
production.
(iii) The third is physical capital i.e., varieties of
inputs that are required for production such as fixed capital (Building,
equipment, machinery and tools, etc.) and working capital (cash, raw materials,
etc).
(iv) The fourth requirement is human capital, which may include
technology, qualified man power, etc. The items under physical capital are
fixed capital and working capital.
You need to login to perform this action.
You will be redirected in
3 sec