Which among the following factors of production is most abundant in Palampur village?

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Land

Capital

Labour

None of these

answer is A.

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Detailed Solution

Land is the most abundant factor of production in Palampur.
Land includes other natural resources like forests, minerals, and water. These natural resources are the most important factor in production. No land is idle in Palampur. During winter or Rabi season, people grow wheat and sugarcane. During the Kharif season people grow bajra and jowar. Between the months of October and December, people cultivate potatoes. The requirement for labour comes in second. While some production and manufacturing tasks necessitate highly educated workers, others call for manual labour. The requirement for physical capital comes in third. This includes the inputs needed at each stage of the production process. The final and fourth requirement is the enterprise.

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