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Factors of Production (Physical Capital (Fixed Capital (Tools Machinery…
Factors of Production
Land
Natural resources water, forest, minerals etc
Land Fixed
Waste Land :arrow_right: Cultivable Land
Agriculture
Multiple Cropping - 3 Crops in a Year in a land
Rainy Season (Kharif) - Jowar & Bajra (Cattle Feed)
October -December :Potato
Winter Season (Rabi)- Wheat
Increases Production
Separate Land for Sugarcane
Well developed irrigation systems
Less than 40% Land Irrigated in India
Electricity - Tube wells
Labour
Educated and Skilled workers
Physical Capital
Fixed Capital
Tools Machinery and Buildings
Can be used for many years
Working Capital
Raw material and Money in hand
Used up in Production
Human Capital
Knowledge and Enterprise to put together other three factors