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Yes because of the human factor.
Mattie Grant
paulbenn
Labour produces more value than it has itself. This surplus value (the difference between what the worker is paid and what they produce) is expropriated by the capitalist as profit.
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What factor of production directs the other three?
Management
Why entrepreneurs is a principal actor in production?
IT IS A PRINCIPAL FACTOR IN PRODUCTION BECAUSE 1. The efficiency of other factor of production depends on him 2. The entrepreneur takes the basic decisions concerning the business entreprise 3.He co-ordinates and organises all other factors of production.
What is the five factors of production?
the factor of production are:land, labour, capital, and enterpreneurship The above is too specific: The Four Factors of production are: Natural Resources (Land and all other resources ie. water, air etc.) Capital (Same, revenue and assets) Human Resources (Labor, in addition to any other human provided service, not limited to labor alone) Entrepreneurship (Same, the Ability, Freedom and Guarantee that business's can be established and operate with out too many restrictions)
Which of these was a belief of Karl Marx?
All Wealth is produced by labor, and the other factors of production are either passive or also the result of labor
The factory is an example of which factor of production?
A factory is considered capital in the factors of production. Capital is any good that was used to create other goods. Since the factory is not a natural resource it can't be land, since it's not the actual workers within the factory it can't be labor, so it has to be capital.
Why is money a factor of production?
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.
Which factor of production includes such things as machinery and buildings used in the production of other goods?
capital
What factor of production directs the other three?
Management
Why entrepreneurs is a principal actor in production?
IT IS A PRINCIPAL FACTOR IN PRODUCTION BECAUSE 1. The efficiency of other factor of production depends on him 2. The entrepreneur takes the basic decisions concerning the business entreprise 3.He co-ordinates and organises all other factors of production.
What is the five factors of production?
the factor of production are:land, labour, capital, and enterpreneurship The above is too specific: The Four Factors of production are: Natural Resources (Land and all other resources ie. water, air etc.) Capital (Same, revenue and assets) Human Resources (Labor, in addition to any other human provided service, not limited to labor alone) Entrepreneurship (Same, the Ability, Freedom and Guarantee that business's can be established and operate with out too many restrictions)
Which of these was a belief of Karl Marx?
All Wealth is produced by labor, and the other factors of production are either passive or also the result of labor
The factory is an example of which factor of production?
A factory is considered capital in the factors of production. Capital is any good that was used to create other goods. Since the factory is not a natural resource it can't be land, since it's not the actual workers within the factory it can't be labor, so it has to be capital.
How does technology differ from capital as a factor of production?
Factors of production typically include land, labor, capital, and natural resources. These inputs are used directly to produce a good or service. Technology, on the other hand, is used to put these factors of production to work. ... An improvement in technology usually means that fewer and/or less costly inputs are needed.
What conditions are necessary for production of labor intensive commodities?
Labor-intensive commodities, such as clothing, shoes, or other consumer goods, are produced in countries that have relatively low labor costs and relatively modern production facilities. China, Indonesia, and the Philippines are examples
What is labour intensity?
Labor intensive refers to the combinations of factor inputs for a firm. If a firm produces a good that is labor intensive it means that the number of units of labor is high relative to the number units of capital (or whatever other factor of production there is). For example, education and teaching is very labor intensive, as the teaching field needs a lot of people to educate and handle the administration of education. It is also not likely that the teaching sector will not shift to ever be capital intensive. Any firm that produces a good that is intensive in any factor is vulnerable to shocks or changes in the cost of that factor. If the price of labor increases it will greatly hinder the ability the firm's ability to produce that good.
Which factor of production directs the work flow of the other three factors?
Management
What factor of production directs the work flow of the other 3 factors?
management
