Abundant Factor of Production
The four main production variables are land, labour, capital, and entrepreneurship. Labour is the most abundant production factor in India. The term "labour" refers to those who perform manual labour, which is typically an unskilled or semi-skilled job. The present understanding of what constitutes a factor of production is primarily derived from neoclassical economics. It incorporates earlier economic ideas into a single formulation, including socialism's concept of labour as a factor of production.
The land has a broad definition and can take many different shapes as a factor of production. Other options include arable land, commercial property, and the resources found on a particular piece of ground. It is possible to extract and purify natural resources like oil and gold for human consumption. Even with few job possibilities, labour is the most abundant factor in production. Either they come from landless households or those who farm little amounts of land.