The factors of production are resources that are the building blocks of any economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, entrepreneurship and IT.
enumirate the different factor of production?
the cost of factor of 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.
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.
laziness
enumirate the different factor of production?
The Production Budget for Chill Factor was $34,000,000.
the cost of factor of production
The main factor influencing production is consumer demand.
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.
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.
The best factor of production is money - since it can buy anything - including human resources. By Dr.R.Senapathi.
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.
If put in order then the last factor of a number is the number itself. So, 50 is the last factor of 50.
mass production
a basketball :)
laziness