what is the aim of production and describe its requirement
Answers
Answered by
5
Heya....!!!
HERE IS YOUR ANSWER
------------------------------------------------------
The aim of the production is to produce required goods and services.
Some of the requirements of the production are:
Land : For any production, it is the most important factor as no production can be done without land. It serves as a base and provide place to do production. Land is fixed and immobile.
Labour : It refers to the human force. It represents all the people who are engaged in transforming the resources and making them useful hence helping in production.
Capital: It basically refers to the money. It is the life blood of all economic activities. Without money, there is nothing in today's world. Capital is further divided into two categories, fixed and working capital.
Human capital : This refers to the one who combines all the above factors of production of goods and produce the desired goods. It provides the required knowledge and enterprise.
-----------------------------------------------------
HOPE IT HELPS!!!
HERE IS YOUR ANSWER
------------------------------------------------------
The aim of the production is to produce required goods and services.
Some of the requirements of the production are:
Land : For any production, it is the most important factor as no production can be done without land. It serves as a base and provide place to do production. Land is fixed and immobile.
Labour : It refers to the human force. It represents all the people who are engaged in transforming the resources and making them useful hence helping in production.
Capital: It basically refers to the money. It is the life blood of all economic activities. Without money, there is nothing in today's world. Capital is further divided into two categories, fixed and working capital.
Human capital : This refers to the one who combines all the above factors of production of goods and produce the desired goods. It provides the required knowledge and enterprise.
-----------------------------------------------------
HOPE IT HELPS!!!
Answered by
5
heya,
the main aim of production is consumption. production means to produced goods and services to the fulfilment of our society. production is totally depends upon consumption. when there is no consumption, we will not produce goods and services. the another aim of production is export also to achieve foreign currency .means we can say that the main of production is to fulfillment of domestic consumption plus export.
the main aim of production is consumption. production means to produced goods and services to the fulfilment of our society. production is totally depends upon consumption. when there is no consumption, we will not produce goods and services. the another aim of production is export also to achieve foreign currency .means we can say that the main of production is to fulfillment of domestic consumption plus export.
Similar questions