Factors of production

[Adexgrace]

Generally there are four major factors of production. Which are land, capital, interest and entrepreneur. But I will love to consider the factor which is capital as a very important one. Because without that production of goods and services for the benefit of the people and all users cannot take place.

 

[Adeyoola7]

Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

 

[Mary]

All these factors of production aids production in different and divers way so I don't think one can perform the function of another. They are king in their own territory and all are very important

 

[Damismiling]

The factors of production am familiar with are land, labour, enterprenuer and capital.
Labour and enterprenuer are two separate entities with distinguish attribute and function. Enterprenuer controls every other factors of production and can't be replaced with labour

 

[Ojonuyo]

Factors of productions indeed has a great role in the success of your business. Most especially capital, without strong financial source your business is doomed for destruction. Next is land: one must have conducive space to carry out his or her business ideas. Be it online space or physical space. Labour is also crucial to the success of your business.

 

[ahmedo24]

Land is becoming out of trend in factor of production as most businesses are moving to online so only capital, emterprieneurer knowledge and labor are growing faster. Though offline business still require much of land and other factors.

 

[Kamon c4]

If I may understand, you suggesting enterpreneur to replace labour? Well, it’s not possible. Enterpreneur needs labour force in order to get effective results. Though labor can’t stand alone but enterpreneur needs the help of labor to succeed

 

[MastetG]

The four main factors of production are land, or the physical space and natural resources, labor, or the workers, capital, or the money and equipment, and entrepreneurship, or the ideas and drive, which are used together to make a successful attempt at selling a product or service according to traditional economic

 

[Gilead]

hmm factors of production..i would have loved to hear the most important among them rather than which could replace which..nevertheless its possible for the entrepreneur to represent the labor for a given period of time but i do not think he can replace labor in anyway

 

[btaliat]

You get the five factors of production right. Back to your question, labour and entrepreneur are different factor entirely. While labour means both skill and unskill manpower that work for the betterment of production, its reward is wages and salary, entrepreneur is the business owner, it's reward is profit or loss.

 

[Chumzy]

Land, labour, capital and entrepreneurship are the factors involved in any production operations. The land is in fixed supply by nature, it can't be added or reduced. Labour is based on workers employed their salary is wage. Capital is money needed in starting a business.

 

[shakky2]

factors of production are the elements to be considered for successful production of what is to be produced.factors of production includes labour which is human power,capital which is the bedrock of goods production and what is to be produced

 

[Oliver 20]

Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship

 

[Ralphjoe]

In the factors of production, there is nothing like enterprenuer, what is there is labour,and there is no way that enterprenuer can replace labour because enterprenuer is not a factor but the owner of a business.

 

[Ehtisham memon]

Production mean any thing can you make so check the quality size and quantity is good for the best and good production making area place and any thing which include the product makes so you should take care it thats production making good and increase our income

 

[Janita]

Yes,Every factors of production have their own role to play when production is been done. And I can say without any doubt that they all work together for the progress and success of the company or business they all want to establish the business well and the demand of the production increase .so they cannot replace each other because their role is to work and developed..

 

[Klashlly]

The factors of Production

Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship

 

[Richard92]

We have four factors of production which must be in place before any production can take place. This includes land, labour, capital and entrepreneur, all this must be in place before production can take place. The factor that supervise all is entrepreneur, it manges the other factors.

 

[Damscooguns73]

Concerning the factors of production, all has been well said. All factors that might be are all generalized into the four majors:
The land, the capital, the labor, the entrepreneur. No company or product can stand without involving all this mentioned factors of production.

 

[Nicklas22]

Every factor of production is very important and no one can replace each because everyone has it's important role to play for production to properly takes place, land, labour,capital and entrepreneur can't replace each other and with one missing production will be poor or can't takes place