Question

what is the basic aim of production ? what are the essential four production in 100 words

Answer 1

The basic aim of production is to satisfy the human wants. there are four factors of production land labour capital organisation. land is passive and fixed factor of production, labour is the active and most notorious factor of production which puts all other passive factors into work, capital is the money invested in the business for carring out business activities and an organisation is a group of people who come together to achieve a common goal. In this way all these factors combined and carry on the production process to manufacture the goods that are desired by the society and to satisfy the wants of human beings.