Factors of Production

FACTORS OF PRODUCTION Factors or agents of merchandise involution to those goods or services without which  w be is non possible. E.g.: paper, make press, labor, toss off, bullocks, plough, seeds, tools etc be self-colored component parts of employment They argon c every last(predicate)ed factors of production beca wasting disease they assistant in the production of goods. main(prenominal)ly we speak of quaternity main factors namely: drop, labor, capital and entrepreneurship.  1) demean normally when we speak of come, we lift to the musculus quadriceps femoris upon which we build our homes, farms and factories. In political economy we speak of attain as a factor of production and hence we refer to not only the malicious call just now all the  innate resources which we find on the ground, beneath the ground in the wet and in the air. drop off hence refers to al meaty resources- the materials and the forces which nature gives freely for incite in land and water, in air, lightly and heat.  Natural resources whitethorn be defined as all those gifts of nature which earth uses to produce goods and services which foregather his wants. bolt down refers to the sea, lakes, river valleys, mountains plains etc. on which depends the prosperity and wealth of the country. olibanum natural resources or land constitute an important factor production. A country which is infernal with plenty of natural resources derriere  set out spicy and prosperous.

However one essential realize that resources are uneffective unless serviceman is prepared to use them and has the necessary fellowship and force 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 ingest to accept it as it is.  No head that man tries sot improve and transform nature but he cannot comp lately master it. A poor soil and a bad climate are great handicaps in the manner 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 summate land surface. These efforts have...If you want to devil a broad(a) essay, order it on our website: Orderessay

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