In literary sense, land is regarded as soil. A. It is customary to attribute the process of production to three factors, land, labour and capital, to which we add organisation. * 1 point Land Labour Capital Tools and machines It can be a non-renewable resource. Every production is organised combining land labour physical capital and human capital which are known as factors of production chaitanyakrishn1 chaitanyakrishn1 The factors are as follows 1. Land b. Labour c. Entrepreneurs d. Capital Get the answers you need, now! Types of Factors of Production. The labour is classified by factors such as work experience, education, and skills. Land. For Coca-Cola, the labour would include the factory workers, managers and people of lower positions in the offices. Marshall has defined land as, “the materials and the forces which nature gives freely for man’s aid, in land and water, in air and light and heat.” 14. However, in economics, land, a factor of production, has a much wider scope. A factory building is an example of which factor of production? One uses the land to produces goods. Labor C. Physical Capital D. Human Capital. Man's first Economic Revolution involved the decision to: A. become a farmer B. seize his neighbor's land C. manufacture automobiles D. travels into outer space. Let us make an in-depth study of the meaning, definition, types and factors of production. C. Physical Capital. Factors of production have been categorized into four types. Since the primary purpose of economic activity is to produce utility for individuals, we count as production during a time period all activity which either creates utility during the period or which increases ability of the society to create utility in the future. HOTS Answer: The great increase in the production of food grains in our country during the last 40 years, due to use of high yielding variety (HYV) of seeds, and other inputs is known as the Green Revolution. Land:. Question 31. 1. Which of the below is not a factor of production?a. Land Land includes natural resources that are found on Earth. It can also be a renewable resource, such as timber. Play this game to review Business. Capital (investment) ... Get the Brainly App Land B. Land is a passive factor of production and so it is essential to combine it with other active factors, in correct proportion, to achieve the optimum productivity. This could be a renewable resource or a non-renewable resource. It refers to all natural resources. It includes raw property and anything that comes from the ground. All natural resources either on the surface of the earth or below the surface of the earth or above the surface of the earth is Land. A factor of production is indispensable for production because without it no production is possible. Meaning of Production: . 1. Land as a Factor of Production . The basic constraint in raising farm productions land which is a fixed factor of production. What is Green Revolution? 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