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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 is the importance of factors of production?
three basic thing of production are money plan and hard work
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.
Four basic factors of production?
Land, labor, capital, and entrepreneurship.
Who takes the three production factors and puts them together?
entrepreneur
What were the three factors of production required to drive the Industrial Revolution?
What were three factors of production required to drive the industrial revolution? that is not an answer the answer is: Land, labor, and capital _______________ that is correct, thanks
Factors of production in Germany?
Germany uses three factors of production. The country uses people, capital, and land in order to produce needed products.
What are the 4 basic inputs that make up the factors of production?
land , labour , capital , organization
What are the three factors of production in any economy?
The three factors of production required for industrialization were land, labor and capital. Land meaning that the place that is being industrialized has a sufficient amount of natural resources. A country needed a growing population in order to have people to work in the industry, which is what the labor stands for. Capital indicates the country must be financially stable, and the people must have money to spend on the products being made. Human capital is subcategory inside capital. People must have the skills and abilities to carry out the job.
State and explain the four factors of production giving one example in each case?
Factors of production are the basic inputs used in the production of goods and services. It includes land,labour,capital and entrepreneurship. By Lamptey Samuel Boafo
What are factors of production name any four factors of production.?
Factors of production
What were factors of production required to drive the industrial revolution?
What were three factors of production required to drive the industrial revolution? that is not an answer the answer is: Land, labor, and capital _______________ that is correct, thanks
