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The resources used to produce goods and services.
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∙ 12y ago
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What are five factors of production?
Many factor tie into production but five factors of production are: product, capabilities, volume, safety, and sales.
Who owns the factors of production in France?
Producers would own the factors of production anywhere, not just France.
Factors involved in the production of a car?
There are a number of factors that may be involved in the production of a car. The actually creating a car is a factor inside of itself.
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.
Explain the law of variable proportions with suitable diagram?
in the process of production, in short run where producer changes few factors of production , i.e; varies the proportion between fixed factors and variable factors then production changes by three ways -at first production increases rapidly - at second production increases slowly - at third production decreases. the analysis of these procedures is known as law of variable proportion.
Income of the four factors of production?
The four factors of production earn the following income:Land earns rent.Labour earns wages.Capital earns interest.Entrepreneurship earns profit.Refer to "Factors of productions?" for the definition of each factor of production. This can be found at [ Factor_of_production]
What is the definitions and characteristictors of factors of production?
the definition of a factor is two multiples multiplied together to get a product
What are factors of production name any four factors of production.?
Factors of production
What is Definition of law of variable proportion?
The law of variable proportion is basically a study of production functions. The factors used include fixed and variable factors.
What is the definition of classical theory of production?
The definition of the classical theory of production is defined by Adam Smith and involves 3 factors of production; land, labor, and capital. With the passage of time the size of the market will increase, which will lead to both internal and external economies of scale, which will eventually lower down the cost of production.
Write a definition for each of the resources needed for production. Give some example?
Factors of production are as followsLandLabourCapital : capital are those already-produced durable goods that are used in production of goods or services. eg: machinesEnterprise
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.
What term comes under the broad definition for factors of production?
of technology, obsolete machinery, innovations, capital,patent rights it is CAPITAL
Discuss the mobility of factors of production?
mobility of factors of production
Factors of production of photography?
what factors of production is needed for photography
How to increase or improve the factors of production?
how to improve factors of production
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.
