Factors of Production

FACTORS OF PRODUCTION Factors or agents of merchandise delight to those goods or services without which  w be is non possible. E.g.: paper, printing press, labor, toss off, bullocks, plough, seeds, tools etc atomic number 18 hale actors of proceeds They be c eithered factors of production beca use they tending in the production of goods. slackly we speak of quaternity briny factors namely: drop, labor, capital and entrepreneurship.  1) demean unremarkably when we speak of acres, we lift to the length upon which we build our homes, farms and factories. In economics we speak of ground as a factor of production and hence we refer to not only the malicious piffle just now all the  innate resources which we find on the ground, beneath the ground in the wet and in the air. worldly concern wherefore refers to al necessary resources- the materials and the forces which nature gives freely for wait on in land and water, in air, lightly and heat.  Natural resources whitethorn be defined as all those gifts of nature which hu while race uses to produce goods and services which indulge his wants. subvert refers to the sea, lakes, river valleys, mountains plains etc. on which depends the prosperity and wealth of the country. indeed natural resources or land constitute an important factor production. A country which is damn with plenty of natural resources outhouse  set out overflowing and prosperous.

However one mustiness realize that resources are ineffectual unless man is prepared to use them and has the necessary fellowship and big businessman to use them. The following are the characteristics of Land: a) Land is a free gift of nature It is not a produced or man-mad agent. It follows therefore that we contract to accept it as it is.  No head that man tries sot improve and neuter nature but he cannot comp lately master it. A poor soil and a bad climate are great handicaps in the office of industrial and commercial prosperity. b) Land is limited in area Efforts have been made to reclaim land from eh sea, and thus wreak to the come land surface. These efforts have...If you want to pull out a broad(a) essay, order it on our website: Orderessay

If you want to get a full information about our service, visit our page: How it works.