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What is meant by land labor capital and enterprises referring to the factors of production?
Land, labor, capital, and entrepreneurship are the four primary factors of production in economics. Land refers to Natural Resources used in the production process, such as minerals, water, and arable land. Labor encompasses the human effort and skills applied in the creation of goods and services. Capital includes the tools, machinery, and buildings used to produce goods, while entrepreneurship is the ability and willingness to combine the other three factors to create and manage a business, driving innovation and economic growth.
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Define factors of production?
Factors of production are the inputs for the production process. Three basic factors of production are land, labor, capital and entrepreneurship.
The factors of production are?
There are five factors of production these are land, labour, capital, entrepeneur and information resources.
What are three factors of production?
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.
What of the four factors of production is rubber?
Capital
What are the five factors of production?
The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources
Define factors of production?
Factors of production are the inputs for the production process. Three basic factors of production are land, labor, capital and entrepreneurship.
The factors of production are?
There are five factors of production these are land, labour, capital, entrepeneur and information resources.
What are three factors of production?
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.
What of the four factors of production is rubber?
Capital
What are the five factors of production?
The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources
Example of what factor of production?
Land, Labour, Capital and Entrepreneurship are the factors of production. Examples are Land, Labour in the form of employees, Capital like machinery used in different companies and industries are examples of factors of production.
What are the four factors of production in making steel?
The four factors of production are: Natural resources Capital Labour Entrepreneurship.
What are the rewards for the factors of production?
land- rent labour- wages capital- interests organisation- profit
Define and explain the four factors of production landlaborphysical capitalhuman capital?
Define factor of production land ,labour,physical capital ,human capital?
Factors of production history?
Factors of production are essential conditions or resources that favor economic production, and include land, labor, entrepreneurship, and capital.
What are the different factors of production?
There are four different factors of production and they are land, labor, capital and enterprise. These four factors are necessary in producing a commodity.
Explain the factors detemimining working capital requirements of a firm?
The nature of the business, seasonality of production and the production cycles are some of the factors that determine the working capital requirements of a firm.
