What does the terms “factors of production” mean in social studies me

What are Factors Of Production ?

"Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit. They include any resource needed for the creation of a good or service. The factors of production include land, labor, capital and entrepreneurship. These production factors are also known as management, machines, materials and labor, and knowledge has recently been talked about as a potential new factor of production."

That is an expert from online so i suggest altering it here and there to avoid plagiarism!

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