Factors of Production
Every good and service is produced by combining four essentials. This chapter of the NCERT Class 8 Social Science textbook introduces land, labour, capital and enterprise: natural resources and space, the workers who supply effort and skill, the tools, machines and money that amplify work, and the entrepreneur who organises the rest and bears risk. Farm and factory examples show how the four combine, how each earns a return in rent, wages, interest and profit, and why their quality decides productivity.
Try a free lesson