Factors of production

[Agbalagbaa]

Capital is the most important thing you need, because even if you have a business ideas is if you don't have a capital to start it up is all In vain.

 

[Shigobad20201]

You are right, just remainds me of my school day's, we all here are brought up by reproduction, if there's no reproduction that means there will be no human or any living organisms.

If you are not producing anything in your organisation, then there's nothing for you to be selling and that simply means your business will cease to be in existence , so for your organisation to be functioning, You need to be working hard .

 

[Joseph555]

This includes skilled and unskilled labour in production
Capital...all assets used to acquire others such as machinery,raw material etc
Entrepreneur simply put in the brain behind operation

 

[frederick_9]

Factors of production are the inputs needed for creating a good or service, and the factors of production include land, labor, entrepreneurship, and capital.

 

[Immilash1]

Factors of production are the inputs needed for creating a good or service, and the factors of production include land, labor, entrepreneurship, and capital.

In everything we do having capital to start it up is very important, a lot of people have business ideas but they lack the capital to start it up, having capital will very much help you.

 

[Shigobad20201]

In everything we do having capital to start it up is very important, a lot of people have business ideas but they lack the capital to start it up, having capital will very much help you.

Working capital is very important in any aspect of a business , because without the money needed to start up a business , you will be stagnant and we have many ways in which we can make money to start up you business .

 

[eenya001]

Do you by this post suggest that entrepreneur is one of the factors of production ? This is quite new to me because I know that labour is one of the factors of production.
Perhaps more explanation can help

I do not believe that enterprenuer is a factor of production as it is not an ingredient in needing or producing the final goods as production is been done by various companies and not just enterprenuer

 

[Immilash1]

Working capital is very important in any aspect of a business , because without the money needed to start up a business , you will be stagnant and we have many ways in which we can make money to start up you business .

You are right, I think even if you have the knowledge of what you are doing,if you don't have a capital all is in vain, having enough capital is going to help you to gain what you want.

 

[Shigobad20201]

You are right, I think even if you have the knowledge of what you are doing,if you don't have a capital all is in vain, having enough capital is going to help you to gain what you want.

Without the capital to start the business , you will just be stagnant if all you have is the knowledge of the business , that's why moneyis very important in business survival .

 

[Immilash1]

Without the capital to start the business , you will just be stagnant if all you have is the knowledge of the business , that's why moneyis very important in business survival .

That's true, if you don't have a capital to start up a business you are just wasting your time, you need to have capital before you can start to earn money.

 

[ganibade]

The factors of production are the constituents of production
Without them production cannot take place. The factors of production are as follows:
Land. It means a place where production takes place
Labour
Capital and
Entrepreneur
Can labour stay in place of entrepreneur?

It is true that you have mentioned the factors of production but you cannot replace enterpreneur with labour without labour you can start to do anything in your factory.

 

[Good-Person]

Without the capital to start the business , you will just be stagnant if all you have is the knowledge of the business , that's why moneyis very important in business survival .

Well, amongst all factors of production, I think that capital is the most important one of them all. This is because if you have enough capital, you will be able to cover other factors as well.

 

[Ayojesu]

They are basically four in number: land, labour, capital, entrepreneur.
They are interdependent on each other to achieve a solid production.

 

[Eli342]

The environment in which your business is located affects a number of manufacturing and production-related factors. The quality of the products you deliver to customers is one key approach, and another is the manner in which you handle customer service.

 

[Heatman]

The factors of production are the constituents of production
Without them production cannot take place. The factors of production are as follows:
Land. It means a place where production takes place
Labour
Capital and
Entrepreneur
Can labour stay in place of entrepreneur?

The truth is that a big part of labor can actually be replaced by machineries but you cannot replace labour hundred percent. But one thing that is very certain is that you need all the factors of production to be in place for you to be successful with your production.

 

[Good-Person]

The environment in which your business is located affects a number of manufacturing and production-related factors. The quality of the products you deliver to customers is one key approach, and another is the manner in which you handle customer service.

There are many things that could influence it and one of them is availability of raw materials. If raw materials are not available, then the production gets affected really badly.

 

[Trey]

The singular most important factor is entrepreneurship. That's because it organises the other factors to make it productive. Without him, the other factors are useless.

 

[Good-Person]

The singular most important factor is entrepreneurship. That's because it organises the other factors to make it productive. Without him, the other factors are useless.

I think that there are many factors associated with production and i think that raw material is also one of the most important factors as well if you ask me. This is because we need raw material to manufacture products.

 

[Jonaville1]

The factors of production are the constituents of production
Without them production cannot take place. The factors of production are as follows:
Land. It means a place where production takes place
Labour
Capital and
Entrepreneur
Can labour stay in place of entrepreneur?

Capital is one of the basic things that is important when it comes to producing because you cannot produce any product when you don't have the money to do so