What is Green Revolution? HOTS Answer: The great increase in the production of food grains in our country during the last 40 years, due to use of high yielding variety (HYV) of seeds, and other inputs is known as the Green Revolution. A factory building is an example of which factor of production? A factor of production is indispensable for production because without it no production is possible. All natural resources either on the surface of the earth or below the surface of the earth or above the surface of the earth is Land. Land. It includes raw property and anything that comes from the ground. That includes commodities such as oil and gold. 1. Man's first Economic Revolution involved the decision to: A. become a farmer B. seize his neighbor's land C. manufacture automobiles D. travels into outer space. The basic constraint in raising farm productions land which is a fixed factor of production. Which is the most abundant factor of production in India? It can also be a renewable resource, such as timber. Land as a Factor of Production . Question 31. Marshall has defined land as, “the materials and the forces which nature gives freely for man’s aid, in land and water, in air and light and heat.” Land is short for all the natural resources available to create supply. Capital (investment) ... Get the Brainly App However, in economics, land, a factor of production, has a much wider scope. Land B. Labor C. Physical Capital D. Human Capital. It can be a non-renewable resource. It refers to all natural resources. Since the primary purpose of economic activity is to produce utility for individuals, we count as production during a time period all activity which either creates utility during the period or which increases ability of the society to create utility in the future. It is customary to attribute the process of production to three factors, land, labour and capital, to which we add organisation. 14. Land Land includes natural resources that are found on Earth. Land b. Labour c. Entrepreneurs d. Capital Get the answers you need, now! The labour is classified by factors such as work experience, education, and skills. Land:. In literary sense, land is regarded as soil. This could be a renewable resource or a non-renewable resource. 1. Meaning of Production: . A. C. Physical Capital. Which of the below is not a factor of production?a. Land is a passive factor of production and so it is essential to combine it with other active factors, in correct proportion, to achieve the optimum productivity. One uses the land to produces goods. * 1 point Land Labour Capital Tools and machines Factors of production have been categorized into four types. For Coca-Cola, the labour would include the factory workers, managers and people of lower positions in the offices. Types of Factors of Production. Let us make an in-depth study of the meaning, definition, types and factors of production. 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