Mention any 4 characteristics of
(i) labour as a factor of production
(ii) capital as a factor of production
(iii) land as a factor of production
(iv) entrepreneur as a factor of production
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characteristics of land :
1 free gift of nature
2 limited supply
3 no mobility
4 cannot be destroyed easily
5 an inactive means of production
characteristics of labour :
1 perishable or cannot be stored
2 an active means
3 mobile factor
4 inseperable from labourer
5 means as well as an end of production
characteristics of capital :
1 a compulsory means of production
2 man made factor
3 passive factor
4 mobile factor
5 perishable
characteristics of entrepreneur
1 owner of the business
2 ability to organise labour
3 assembles the other factors of production
4 risk bearing factor
1 free gift of nature
2 limited supply
3 no mobility
4 cannot be destroyed easily
5 an inactive means of production
characteristics of labour :
1 perishable or cannot be stored
2 an active means
3 mobile factor
4 inseperable from labourer
5 means as well as an end of production
characteristics of capital :
1 a compulsory means of production
2 man made factor
3 passive factor
4 mobile factor
5 perishable
characteristics of entrepreneur
1 owner of the business
2 ability to organise labour
3 assembles the other factors of production
4 risk bearing factor
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0
Answer:
Capital possesses the following main characteristics:
Man Produces Capital: ...
Capital is a Passive Factor of Production: ...
Capital is a Produced Means of Production: ...
Capital is Variable: ...
Capital is more Mobile than other Factors of Production: ...
Capital Depreciates: ...
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