what is the aim of production? State any four requirements for production.
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Answered by
45
Aim of production are
1. For the fullfilment of demand
2. Making continuous demand in the market, production is necessery
3. More production leads to decrease in price.
4. More production leads to more employment generation, which ll create large employment for better economic growth.
1. For the fullfilment of demand
2. Making continuous demand in the market, production is necessery
3. More production leads to decrease in price.
4. More production leads to more employment generation, which ll create large employment for better economic growth.
Answered by
64
aim of production is to produce goods and services that people want.
Factors or requirements of production are :-
1) land and other natural resources such as water , minerals, forest etc.
2) the second requirement is the labour that is people who will do the work
3) Physical capital:- that is variety of inputs required at every stage of production it may of 2 types :- fixed capital and working capital
4) the fourth requirement is human capital that is knowledge from a skilled education help etc. that human being posses to put
Factors or requirements of production are :-
1) land and other natural resources such as water , minerals, forest etc.
2) the second requirement is the labour that is people who will do the work
3) Physical capital:- that is variety of inputs required at every stage of production it may of 2 types :- fixed capital and working capital
4) the fourth requirement is human capital that is knowledge from a skilled education help etc. that human being posses to put
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