Question

Fill in the blank with appropriate alternative given below:

______________ is regarded as primary factor of production.

Options

• Land
• Labour
• Capital
• Entrepreneur

Answer 1

Land is regarded as primary factor of production.

Explanation:

Land is regarded as a primary factor of production as it is used in every kind of production. It facilitates production and does not change itself in the process. Thus, it acts as a base in the production process.