0
Labour, land, capital, and enterprise are the essential factors of production that drive economic activity. Labour provides the workforce needed to create goods and services, while land offers the Natural Resources required for production. Capital represents the financial and physical assets that facilitate production processes, and enterprise embodies the entrepreneurial spirit that organizes and combines the other factors to innovate and create value. Together, these elements are crucial for economic growth, job creation, and overall societal development.
What else can I help you with?
What are the rewards of the four factors of production?
The remuneration of the four factors of production; land, labour, capital and enterprise are respectively, rent, wages, interest and profit.
What are the 7 factors of production?
land labour capital enterprise
Why land labor and capital are important as the factors of production?
There are four factors of production: Land,labour,capital and enterprise(risk).
What is the remuneration of each of of the four factors of production?
The remuneration of the four factors of production; land, labour, capital and enterprise are respectively, rent, wages, interest and profit.
4 factors of production?
capital:man-made machines usedentrepreneurship:person that starts a businessland:all natural resources found in the landlabor:all human resources
What are the 4 factors of production?
Land, Labour, Capital, and Enterprise
What are the rewards of the four factors of production?
The remuneration of the four factors of production; land, labour, capital and enterprise are respectively, rent, wages, interest and profit.
What are the 7 factors of production?
land labour capital enterprise
Why land labor and capital are important as the factors of production?
There are four factors of production: Land,labour,capital and enterprise(risk).
What is the remuneration of each of of the four factors of production?
The remuneration of the four factors of production; land, labour, capital and enterprise are respectively, rent, wages, interest and profit.
4 factors of production?
capital:man-made machines usedentrepreneurship:person that starts a businessland:all natural resources found in the landlabor:all human resources
What are four factors of production?
Labour Land Capital Entrepreneurship
What is requirements for production?
land labour physical capital
What r the major factors of production in an agricultural farm?
Land, Capital and Labour. Land- The farm is based here, Capital- The money for the machinery, Labour- Workers on the farm.
What are the rewards for the factors of production?
land- rent labour- wages capital- interests organisation- profit
What are the four factors of production in the private enterprise system?
Land, labor, capital, enterprise
What are the classifications of economic resources?
Land labour capital entrepreneurship
