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Yes because of the human factor.
What else can I help you with?
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)
Factor intensity reversal?
Factor intensity reversal refers to a situation in which a country's relative use of factors of production, such as labor and capital, changes between industries as the country's level of development changes. For example, a country may initially be more labor-intensive in its production of goods, but as it develops, it may become more capital-intensive in certain industries. This reversal can occur due to changes in technology, market conditions, or other factors.
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
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.
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
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.
Briefly explain the 3 basic elements of costs?
The three basic elements of costs are direct materials, direct labor, and overhead. Direct materials refer to the supplies used in production, direct labor refers to the cost of labor directly involved in production, and overhead encompasses all other production costs not directly tied to materials or labor.
Which factor of production directs the work flow of the other three factors?
Management
