Factors of production
Define factor of production land ,labour,physical capital ,human capital?
There are four different factors of production and they are land, labor, capital and enterprise. These four factors are necessary in producing a commodity.
capital:man-made machines usedentrepreneurship:person that starts a businessland:all natural resources found in the landlabor:all human resources
Capital
Factors of production
Define factor of production land ,labour,physical capital ,human capital?
Factors of production are the basic inputs used in the production of goods and services. It includes land,labour,capital and entrepreneurship. By Lamptey Samuel Boafo
The four factors of production are: Natural resources Capital Labour Entrepreneurship.
There are four different factors of production and they are land, labor, capital and enterprise. These four factors are necessary in producing a commodity.
capital:man-made machines usedentrepreneurship:person that starts a businessland:all natural resources found in the landlabor:all human resources
WHAT ARE THE FOUR FACTORS OF PRODUCTION FOR A CAR!? not land labor capital goods and entrepreneurship but what are the actual items
The four factors of production (land, labor, capital and entrepreneur) must all present if you wish to improve the economic level of production.
Capital
The remuneration of the four factors of production; land, labour, capital and enterprise are respectively, rent, wages, interest and profit.
Australia's (and every other country) four factors of production are:LandLabourCapitalEntrepreneurship.Hope this helps
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.