explain 4 factors of production and which factor is most scares and why
Answers
Answered by
30
The 4 factors of production are land, labour, capital, and entrepreneur.
Land: It is most abundant factor.
Labour: It consist of the human force to do the work.
Capital: It is the money required for the production of any thing.
Entrepreneur: It is the most scarce factor in all the 4 factors of production because the work of entrepreneurs is to think of new ideas and then take the idea into the action of any business and arrange the money suitably and it is not everyone's cup of tea.
Land: It is most abundant factor.
Labour: It consist of the human force to do the work.
Capital: It is the money required for the production of any thing.
Entrepreneur: It is the most scarce factor in all the 4 factors of production because the work of entrepreneurs is to think of new ideas and then take the idea into the action of any business and arrange the money suitably and it is not everyone's cup of tea.
Answered by
0
Answer:
The 4 factors of production are land, labour, capital, and entrepreneur.
Land: It is most abundant factor.
Labour: It consist of the human force to do the work.
Capital: It is the money required for the production of any thing.
Entrepreneur: It is the most scarce factor in all the 4 factors of production because the work of entrepreneurs is to think of new ideas and then take the idea into the action of any business and arrange the money suitably and it is not everyone's cup of tea.
Similar questions