Quick Answer: Which Factor Is Most Abundant In Palampur Village?

Which is the most abundant factor of production *?

Land is the most abundant factor of production in India.

it is an active factor of production without whose cooperation land and capital cannot produce anything.

The natural resources of a country will remain underutilised in the absence of labour.

Labour is the source of wealth..

How many people are in village Palampur?

What kind of people live in the village Palampur? Answer: This village has about 450 families belonging to several different castes.

Which is the most important factor of production?

Human capital is the most important factor of production because it puts together land, labour and physical Capital and produce an output either to use for self consumption or to sell in the market.

What are the 7 factors of production?

Factors of ProductionLand/Natural Resources.Labor.Capital.Entrepreneurship.

Which factor of production is most scarce and why?

Land is the most scarce factor because unlike capital, entrepreneurs and labour, it is limited and only a certain amount can be used.

What is abundant factor production?

money or capital,land and labour are the abundant factor of production.

Is Palampur a real village?

The village named Palampur is actually a hypothetical village that look similar to some villages of Uttar Pradesh of India.

Which of the following factor is abundant in Palampur?

LandLand is the most abundant factor of production in Palampur.

What is the aim of production?

The aim of production is to produce the goods and services that we want. There are four factors of production: (i) Land. The first requirement of production is land, and other natural resources such as water, forests, minerals.

What are the 4 factors of production?

Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.

How many families live in village Palampur?

450 families450 families live in Palampur. 80 are upper caste families and own maximum land. 150 families do not own land and 300 own land.

What is the main production activity in Palampur villages?

FarmingFarming is the main production activity in Palampur. 75 per cent of the people who are working are dependent on farming for their livelihood. They could be farmers or farm labourers.

What are the main features of village Palampur?

1) It is near Raiganj village and shahpur town. The area of the village 300 hectares. 2) It has many facilities such as educational, medical, market, electricity supply and communication etc. 3) It has fixed land in the main production activity of farming.

Which factor of production is an example of a farmers Plough?

Answer: Farming plough is an instance of labour as a factor in production.

What are the 4 factors of economic growth?

Economic growth only comes from increasing the quality and quantity of the factors of production, which consist of four broad types: land, labor, capital, and entrepreneurship. The factors of production are the resources used in creating or manufacturing a good or service in an economy.