Home> Class-12> Economics >Q 86 |
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Que : 86. What are the main factors of production and what are called the remunerations to each of them ? |
Answer: Variable factors - refers to those factors , which can be changed in the short run. for eg. raw material, casual labour, fuel, etc. Fixed factors - those factors which cannot be changed in the short run. For eg. plant and machinery, land, building, etc. remunerations of these factors of production are follows- land : rent labour : wages capital : interest entrepreneur : profit |