what is relation of big farmers with the factors of production?
Answers
Answered by
5
Answer:
- big farmers can easily avail them an get their benefit.
- they don't have to rely upon others.
- examples of factors of production are machinery,land,labour,capital etc.
Answered by
0
Factors of production are the inputs required for the creation of a good or service. The factors of production include land, labor, machinery, entrepreneurship, capital, etc
Explanation:
- Big and rich farmers were able to afford and have all the factors of production and did not need to depend on others for it
- Big farmers could employ landless labourers to work on their farms for wages. They owned lands and could afford machinery required for cultivation such as ploughs, tractor, reapers, etc. The money needed to buy raw materials such as seeds, fertilizers etc could be afforded by the bug farmers
- They also had capital which was in the form of savings and could arrange for capital when needed. Big farmers purchased HYV seeds that needed higher inputs which only the they could afford
Similar questions