Labor and capital are the two factors of production that come into utilization in an online education facility.
<h3>What are the factors of production?</h3>
The factors which are useful in running an organization and increase the productivity of an organization are known as the factors of production. Labor and capital are two such important factors.
Labor in the form of a tutor and technical staff will help in creation of courses in education facility. Capital in the form of money and assets like equipment will also be brought into utilization.
Hence, the factors of production for education facility are as aforementioned.
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In 1501, shortly after Christopher Columbus discovered America, Spain and Portugal began shipping African slaves to South America to work on their plantations. In the 1600s, English colonists in Virginia began buying Africans to help grow tobacco.
