Question

What is the aim of production . State any 4 requirements needed for production of goods and services

Answer 1

aim of production is to serve facilities and income.4 req.are capital,labour,money in hand,raw materials

Answer 2

Solution:

the production aims to produce the goods and services we want. production of goods requires 4 inputs, which are also known as factors of production.

these requirements are

1. human capital

2. physical capital

3. labor

4. land