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Why are factors of production important in business?
Factors of production are important in business because managers can improve their position when they know what contributes to production. The type of machinery used in production is a factor in production.
What do economists consider factor of production?
enumirate the different factor of production?
What is factor price?
the cost of factor of production
Why money is not consider as a factor of a production?
Money is not a factor of production in economics because it is used as a way to facilitate trade, but does not actually produce goods or services on its own. Money is not considered a factor of production because it cannot be made into a good or service. It can only purchase them. Money facilitates trade, but it is not in itself a productive resource. A factor of production is an input to the production process, such as capital. Money is not capital as economists define capital, because it is not a productive resource.
Why is labor a unique factor of production?
Labour is a unique factor of production due to that they play an important role and labour is the important factor on the base of it company performance depends.
Why are factors of production important in business?
Factors of production are important in business because managers can improve their position when they know what contributes to production. The type of machinery used in production is a factor in production.
What do economists consider factor of production?
enumirate the different factor of production?
What was the Production Budget for Chill Factor?
The Production Budget for Chill Factor was $34,000,000.
What is factor price?
the cost of factor of production
What factor influence a region photosynthetic productivity?
The main factor influencing production is consumer demand.
Why is money a factor of production?
money acts as a factor of production. it is because the other factors of production are indirectly dependent on money. more the money paid to any factor of production more it will work. hence money encourages other factors of production to work more.
Why money is not consider as a factor of a production?
Money is not a factor of production in economics because it is used as a way to facilitate trade, but does not actually produce goods or services on its own. Money is not considered a factor of production because it cannot be made into a good or service. It can only purchase them. Money facilitates trade, but it is not in itself a productive resource. A factor of production is an input to the production process, such as capital. Money is not capital as economists define capital, because it is not a productive resource.
What is the best factor of production?
The best factor of production is money - since it can buy anything - including human resources. By Dr.R.Senapathi.
Why is labor a unique factor of production?
Labour is a unique factor of production due to that they play an important role and labour is the important factor on the base of it company performance depends.
When did disconnection from food production became a significant factor?
mass production
What are the factor of production for a basketball?
a basketball :)
What is the antonym of factor of production?
laziness
