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Chapter 16 – Factors of Agricultural Production

Meaning of Factors of Production

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Production is the process of manufacturing goods and providing services. It also refers to all economic activities which result in the creation of goods and services.

Meaning of Factors of Production

Factors of production are those resources needed to achieve production. For goods and services to be created during the process of production, certain factors have to come together. These resources or factors that are combined for goods and services to be produced are known as factors of production.

The Factors of Production

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