Factors of production

[Keibah]

The entrepreneur is like the controller of everything when it comes to production. It's like a motor and its driver. The entrepreneurs can still take the place of labor depending on the scale of production.

 

[Seun4luv]

The 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.

 

[Sammyesx]

Labour cannot be used in place of entrepreneur, they are both independent, without each factor production will be impossible.
The entrepreneur is the brain behind the production, he provides the capital and other factors while labour is require when other factors has been put in place and its sole aim to for the realisation of the production.

 

[Chumzy]

The equipments or instruments or resources required in producing a certain good or service. It could be land which is a free gift of nature or capital as man made resrouces. It could be labour as skilled and unskilled or lastly the entrepreneur himself.

 

[Eyiteepraise]

Factors of production are the inputs needed for the creation of a good or service. They perform different functions and one can not be replaced by another. Labour refers to the effort expended by an individual to bring a product or service to the market. Entrepreneurship is the secret sauce that combines all other factors of production into a product or service for the consumer market

 

[Lekan]

Their are major factors of production which are land, labour ,capital, and entrepreneur they are the major factors day that will determine how the production will goes on so

 

[Nurudeen]

Absolutely a labour can stay in place of an entrepreneur. Most people might argue this but let's say a person runs a one man Business without even having huge capital to expand the business and hire more hands so the owner will serve as the entrepreneur and the labour in the business. So I think we can substitute labour for entrepreneur.

 

[Kelly5]

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?

If labour can stay in place of entrepreneur, I'd say know. Because labour don't pay entrepreneur but rather entrepreneur pays labour. Labour is not the brain of the endeavor, the entrepreneur is and is also the strategist and risk taker not labour.

 

[Samuel77]

According to my own point of view, labour can never stay in place of entrepreneur , because entrapreneur is the forth factors of production and it supersed all and it remains the greatest of all the four and it can also stay in the place of any factors of production

 

[shakky2]

every efforts in the production of goods and services count which is why we have to be considerate of the factors of production which makes up goods and services.factors of production includes money which makes any plan achievable,labour which is the human power used in production of products and human factors

 

[Diamond07]

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?

As you have stated the four factors of land are : land, labour, capital, entrepreneur. Labour cannot stay in place of entrepreneur. Labour involves skilled and unskilled efforts put into production while an entrepreneur is the brain behind the whole production process

 

[Abbas ali]

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.

 

[Richmond funke abosede]

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

The first factor of production is land, but this includes any natural resource used to produce goods and services. This includes not just land, but anything that comes from the land. Some common land or natural resources are water, oil, copper, natural gas, coal, and forests. Land resources are the raw materials in the production process. These resources can be renewable, such as forests, or nonrenewable such as oil or natural gas. The income that resource owners earn in return for land resources is called rent.

 

[Milz]

Labour is the one who produce goods and services. While entrepreneur uses all other factors of production in order to earn a profit. I don't think the two can stay at same place. They have different roles to play in an organization

 

[shakky2]

factors of production are the skills to be combined together for a successful production of goods and services.these factors of production includes labour which is the effort or power t and skills to be put into production.also we have capital which is the money to be used in the finance of the business

 

[kayode10]

There is no way a labour will represent entrepreneur in the factors of production. There is obvious distinguish between the two that is the entreprenuer and the labour. The entrepreneur who acts on the business, that is it determines the future of the business planning from the present. While the labour works in the business and ensures that the Whole production runs smoothly.

 

[Shayo]

In addition, factors of production refers to the inputs needed in the production of goods and services in order to make profit. They are resources that allow us create finished products and perform services. These inputs or resources are important since you can't create a product out of nothing or perform a service without labour.

 

[Psalmsavatar]

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.

 

[Godleads1]

Labour can't replace entrepreneur in the factors of production but if put in one person, a person can play the parts. A person can be an entrepreneur and also a labour in the fulfilment of objectives.

 

[Axad. Mrb]

Land is short for all the natural resources available to create supply. It includes raw property and anything that comes from the ground. It can be a non-renewable resource. That includes commodities such as oil and gold. It can also be a renewable resource, such as timber. Once man changes it from its original condition, it becomes a capital good. For example, oil is a natural resource, but gasoline is a capital good. Farmland is a natural resource,