What are the factors of production and their importance in the agricultural industry?
Land
Labor
Capital
Technology and Knowledge
The rational use and proper management of land facilitates its recovery, renewal, and conservation.
The remuneration to the labor factor is influenced by the level and relevance of education and the quality of work that the occupied population contributes to the production process.
The factor capital is made up of durable goods that are used as means for the production of goods and services.
The design, development, and implementation of technology and knowledge contribute to reducing production costs through the optimization of scarce resources.