Question

what is the main aim of production
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Answer 1

Aim of Production :-The aim of production is to produce the goods and services to generate wealth that we want for ourselves. There are four requirements needed for the production of goods and services which are land, labour, capital and Human Capital or Entrepreneur.

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Answer 2

The aim of production is to produce the goods and services that we want.

Explanation:

The basic objective of production was to produce the goods and services that we wanted.

Four requirements for the production of goods and services were as follows:

• Land and other natural resources such as water, forests, minerals Labor, i.e. people who would do the work.
• Each worker shall provide the labor necessary for production.
• The third requirement is physical capital, i.e. the variety of inputs required at each stage of production.
• The fourth requirement is that knowledge and enterprise be able to combine land, labor and physical capital and produce output.

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