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How are the four factors of production used in satisfying wants and needs?
The four factors of production—land, labor, capital, and entrepreneurship—work together to satisfy wants and needs by providing the necessary resources for creating goods and services. Land offers natural resources, labor provides human effort, capital involves tools and machinery, and entrepreneurship drives innovation and decision-making. Together, these factors enable the production of a variety of products that fulfill consumer demands, ultimately contributing to economic growth and improved living standards.
Importance of production in the satisfaction of human and wants?
Maybe the people have needs and according to that needs the human produce to satisfy his own or other human needs.The needs are not food, TV, Clothes, or Drinks etcThe needs are not food but survival of human not clothes but the necessity not T.v but Entertainment so for Satisfying those needs they produce.The wants cannot be satisfied very easily but not the needs.Human Behaviour is changeable according to the generations so this generation is fast so they want fast food fast Internet fast job fast communication and fast transportation.or maybe the wants can be also reach to the Luxuries like i dont want any car but Mercedes. I am not eating food in any Hotel but Intercontinental so wants cannot be specified easily but several company supplies and produces in such a way in such a speed that their customers and consumers gets satisfied of their certain wants
House of quality?
A house of quality is a chart similar to a house, describing how much the product is satisfying the customer's needs.
What is the definition of Capital formation?
According to Ragnar Nurkse, "The meaning of 'Capital formation ' is that society does not apply the whole of its current productive activity to the needs and desires of immediate consumption, but directs a part of it to the making of capital goods: tools and instruments, machines and transport facilities, plant and equipment-all the various forms of real capital that can so greatly increase the efficacy of productive effort. The term is sometimes used to cover human as well as material capital. It can be made to include investment in skills, education and health-a very important form of investment." Ragnar Nurkse's definition merely implies the accumulation of material capital and neglects human capital.
What are the Basic Economic Problems?
the basic economic problem is the unlimited wants and needs of human which results to scarcity of resources. what are the needs?-the needs are the things we must posses in order to survive like food,water, clothing,shelter. while the wants are those things that human would like to have in order to improve there status in life. we limited resources that'a why encounter this problem. the economic resources like land, labor,and capital which are the factors if production are insufficient to satisfy our needs and wants.
Rewards of a butchers job?
One is, satisfying the needs of society.One is, satisfying the needs of society.One is, satisfying the needs of society.One is, satisfying the needs of society.One is, satisfying the needs of society.One is, satisfying the needs of society.
Is marketing creating or satisfying needs?
marketing is at the heart of satisfying customers needs
What is marketing management philosophies?
marketing is human activity directed at satisfying needs and wants through exchange processes
What is the importance of vegetables in our diet?
The importance of vegetables in our diet is to help provide the human body with vitamins. The human body needs vitamins in order to function properly.
Definiton of satisfying customer needs and wants?
willy
What is the importance of chemistry in human needs?
ang aking sa got ay secret hehehehehehe
Is animal behavior based on satisfying physiological needs?
Much of animal behavior is based on satisfying their physiological needs. Some of these behaviors would be finding food and shelter.
How does production help in satisfying needs and wants?
It provides products to satisfy your needs and wants.
The two central concerns of marketing are?
Discovering and satisfying needs.
What does marketing entail?
refer to the satisfying the needs of different people and organisation.
What does human place mean?
"Human place" can refer to spaces and environments designed with human needs and activities in mind. It encompasses places that are comfortable, functional, and conducive to human well-being and interaction. This concept emphasizes the importance of designing spaces that cater to the needs and behaviors of individuals.
How is water importance for us?
the human body needs water to survive and will die off after 3 days without water
