List at least five factors of production that were used to produce that good or service. Asked by Wiki User. Thus, if the input is scarce in relation to the need for it, it is regarded as a factor of production. we found that labour is the most abundant factor of production. In contrast to labor which factor is a scarce factor of productin? Moreover, even the existing land is distributed _____ (equally/unequally) among the people engaged in farming. Land and labour are also known as primary factors of production as their supplies are determined more or less outside the economic system itself. (ii) In contrast to labour, _____ is a scarce factor of production. In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, finished goods and services. In contrast, if there is no production process behind the demand for land, there will be a problem. They belong to either landless families or life. In a contrast to labour, _____ is a scarce factor of production - Social Science - The Story of Village Palampur There are many people who are willing to work as farm labourers in the villages, whereas the opportunities of work are limited. (iii) Cultivated land area is _____. In economic terms, money is not a factor of production because it is a resource used to acquire resources that go into producing goods. The factors of production are capital, labor, and land. (i) They belong to either landless families or _____. In contrast to labour, _____ is a scarce factor of production. There are many people who are willing to work as farm labourers in the villages, whereas the opportunities of work are limited. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function.There are three basic resources or factors of production: land, labour and capital. The more scarce a product is the more it costs and the other factors contributions may be less due to this. 1 2 3. Actually, it is labour which in cooperation with land makes production possible. Distinguish between land and labour as factors of production. Cultivated land area is _____. Among the three factors of production, we found that labour is the most abundant factor of production. Answer. In contrast to labour which is a scarce factor of production - 11530715 Include at least one example of each of the three types of factors—land, labor, and capital. While production factors such as labor is needed for training or (ii) Land supply cannot be increased while labour is both geographically and occupationally mobile. Land is a passive factor whereas labour is an active factor of production. Answers (i) Land refers to all resources provided by nature used in production while labour refers to human efforts in production. 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