0
technology greatly affect FOP, the main factor is that it reduces the need of the Labor an important FOP.
also it contribute alot towards the capital ie made made resources
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Technology makes the other factors of production?
Yes technology is one of the factors of production. The use of technology helps saves time and human hour. Technology also helps saves cost.
Fixed proportions technology?
The Fixed Proportion Production Function, also known as a Leontief Production Function implies that fixed factors of production such as land, labor, raw materials are used to produce a fixed quantity of an output and these production factors cannot be substituted for the other factors.
How do the four factors of production affect the economy?
Production factors are essentially the resources needed to produce something. The four generally recognized production factors are land, labor, capital, and either entrepreneurship or time, according to different economists.
What determines the amount of output an economy produces?
The factors of production and the production technology determine the economy's output of goods and services. An increase in one of the factors of productionor a technological advance raises output.
Who owns the factors of production in the Philippines?
Factors of production is labor land capital entrepreneurship and technology and hence is owned by everyone (including citizens and government) of any company.
Are the varoius factors of production affect by globel competition?
Are the varoius factors of production affect by globel compitition
How do technology factors effect businessess?
There are a great many ways in which technology factors affect businesses. These factors affect how efficient a business is with money for example.
Technology makes the other factors of production?
Yes technology is one of the factors of production. The use of technology helps saves time and human hour. Technology also helps saves cost.
How does technology affect production possibilities?
Technology increases production per unit of input (either labor or capital). Any increase in technology necessarily increases output per unit of input.
How does technology differ from capital as a factor of production?
Factors of production typically include land, labor, capital, and natural resources. These inputs are used directly to produce a good or service. Technology, on the other hand, is used to put these factors of production to work. ... An improvement in technology usually means that fewer and/or less costly inputs are needed.
What role does operations management play in producing goods and services?
To coordinate the activities of all the factors of production namely:labour,land,capital,technology,and equipments. To coordinate the activities of all the factors of production namely:labour,land,capital,technology,and equipments.
Fixed proportions technology?
The Fixed Proportion Production Function, also known as a Leontief Production Function implies that fixed factors of production such as land, labor, raw materials are used to produce a fixed quantity of an output and these production factors cannot be substituted for the other factors.
How does technology affect production?
Technology increases production per unit of input (either labor or capital). Any increase in technology necessarily increases output per unit of input.
What are the factors of production How can these help a farmer to grow more production on the same land?
Understand product knowledge，Teach them how to grow technology.
How do the four factors of production affect the economy?
Production factors are essentially the resources needed to produce something. The four generally recognized production factors are land, labor, capital, and either entrepreneurship or time, according to different economists.
What are the factors that affect the supply?
There are many factors that affect labor supply. In most cases, this will be determined by the wage rate of the particular industry and the production level expected among other factors.
What are several factors that could affect the production of wine?
temperature, grapes quality, lack of skilled staff during production
