List the factors of production. your answer:
WebAnswer is A Which factor of production is not represented in the list shown? Bananas a factory goat a risk taking visitors A capital B enterprise C labour D land[N18/P1/Q1] Answer is C A government wishes to increase : agricultural output It gives farmers the tools to irrigate the farmers’ fields. Which factors of production ... WebWhich statement about the factors of production is correct? A Capital includes man-made machines that do not keep their original value B Enterprise is a natural factor of …
List the factors of production. your answer:
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WebQuestion 1. Marks: 1. Reena makes a living by selling paintings of the town in which she lives. She sells them in an open-air market once a week. In order to be able to sell more pictures in a week she decides to buy a studio, pay someone to help in the studio and try to increase demand by advertising in the local paper. WebQuestion 01: What is production? Answer: In general, “production” refers to the process of creating a product. However, this is not the case in terms of economics. The term “production” has a specific meaning in economics. In economics, “production” refers to the creation or enhancement of utility.
Web15 jun. 2024 · 4 Factors of Production. The four Factors of Production are Land, Labor, Capital, and Entrepreneurship, and these are the things that create all of the goods and … Web11 sep. 2024 · Explanation: These factors of production includes land, labour, capital and entrepreneur. Land: this refers to all natural factors of production used In the production of goods and services. An example is water Labour; labour is peoples contribution towards the production of goods and services.
Web10 mrt. 2024 · Craft production. This is a non-automated process that's usually used on products that need personal care and attention in order to deliver a quality product to the consumer. Many companies use this type of production when customers order customized products that include certain unique colors, shapes, patterns or words on the design. Web24 feb. 2024 · What are the factors of production essay? The four factors of production are land, labour, capital and enterprise. Land is the natural resources available for production. That is the economic problem, people’s wants are never-ending but the resources are insufficient to fulfil their demands.
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WebVerified by Toppr. Labour and Entrepreneur are two active factors of production. Land and capital can be used only when labour is employed on them. No doubt, all factors are … hilton smithfield ncWebThe factors, of production are the resources that include land, labor, capital, and enterprise. ADVERTISEMENTS: Land involves natural resources labor is associated with human resources, capital includes manmade resources, and enterprise combines all the three factor, to carry out the production process. Therefore, all the four factors of ... home hardware milton ontario canadaWebAnswer. The four factors of production are: (i) Land – It denotes the natural resources like air, water, soil, etc. The payment that is paid by the firms to acquire these services is … hilton smytheWebAnswer The four factors of production are: (i) Land – It denotes the natural resources like air, water, soil, etc. The payment that is paid by the firms to acquire these services is called rent. (ii) Labour – It refers to the physical and mental effort required to do a work. For example, engineer, manager, worker, etc. home hardware milton onWeb3 apr. 2024 · Factors of production is an economic concept that refers to the inputs needed to produce goods and services. The factors are land, labor, capital, and … home hardware milwaukee cordless toolsWeb7 jun. 2007 · The factors of production are land, labor, capital, and entrepreneurship. The state of technological progress can influence the total factors of production and account for any efficiencies not... Factors of production are resources a company uses to generate a profit by … The four major factors of production are capital, land, labor, and … Amortization is the paying off of debt with a fixed repayment schedule in regular … Land is real estate or property, minus buildings and equipment, that does not … Just In Time - JIT: Just-in-time (JIT) is an inventory strategy companies employ to … Absorption costing is a managerial accounting cost method of expensing all … Economic Order Quantity - EOQ: Economic order quantity (EOQ) is an equation for … Depreciation is an accounting method of allocating the cost of a tangible asset … hilton smithfield riWebAll natural resources either on the surface of the earth or below the surface of the earth or above the surface of the earth is Land. One uses the land to produces goods. It is the primary and natural factor of production. All … hilton smithfield stoke