Classify the factors of production.

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Q. Classify the factors of production.

Tamil Nadu DgeTamil Nadu HSC First Year (DGE) Commerce Board 2024Subjective· 2mImportance★★★★★

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Factors of production are classified into four: Land, Labour, Capital and Organisation (Entrepreneur).

In the Tamil Nadu HSC Class-11 Economics syllabus, the inputs used to produce goods and services are grouped into four factors of production:

Land — all free gifts of nature (soil, water, minerals, forests). Its reward is rent.
Labour — any human physical or mental effort directed at production. Its reward is wages.
Capital — man-made means of production (machines, tools, buildings). Its reward is interest. …

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Same / Similar Concept — real previous-year questions on the same or a closely similar concept, not this exact question.

CBSE 2025Set MARCH1 markMCQ
$Q. Which of the following is not a characteristic of land ?$
(a) Heterogeneous
(b) Its limited supply
(c) Gift of Nature
(d) It is mobile
›Reveal solutionSolution
Land is immobile, so 'it is mobile' is not a characteristic of land — the answer is option (d).

Land is one of the four factors of production. Its main characteristics in the Tamil Nadu HSC Class-11 Economics syllabus are:

It is a free gift of nature (not produced by human effort).

Its supply is fixed / limited — the total quantity of land cannot be increased.

It is heterogeneous — no two pieces of land are exactly alike in fertility or location. …
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CBSE 2024Set MARCH1 markMCQ
$Q. The functional relationship between "inputs" and "outputs" is called as ______.$
(a) Savings function
(b) Consumption function
(c) Investment function
(d) Production function
›Reveal solutionSolution

The correct option is (d) Production function: it links inputs to output.

A production function states the maximum output that can be obtained from any given combination of factor inputs (land, labour, capital, organisation), for a given state of technology. Symbolically Q = f(L, K, …). It is a technical, not a monetary, relationship.

…

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CBSE 2022Set MARCH1 markMCQ
$Q. The functional relationship between "inputs" and "outputs" is called as :$
(a) Savings function
(b) Consumption function
(c) Investment function
(d) Production function
›Reveal solutionSolution

The functional relationship between inputs and outputs is called the production function.

The production function states the technical relationship between the factors of production (inputs such as land, labour, capital and organisation) and the resulting output, for a given state of technology. It is written as Q = f(L, K, ...), meaning output Q depends on the inputs used. The savings, consumpt …

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Q.Classify the factors of production.

Concept understanding — Factors of Production and the Production Function

Q.Classify the factors of production.

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