Find accurate and reliable answers to your questions on IDNLearn.com. Ask your questions and receive prompt, detailed answers from our experienced and knowledgeable community members.
What are the factors of production? Is one factor more important than the others? If so, which one? Why?
No economic activity can happen without all three of them. However, different factors will be more or less important to different economic activities. For example, if one is engaged in subsistence farming, land is more important than the other factors. Labor and capital are important, but land is irreplaceable
We are happy to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. IDNLearn.com is committed to providing accurate answers. Thanks for stopping by, and see you next time for more solutions.
