Factors of production

[Kiwi]

Every factors of production have their own role to play when production is been done. Entrepreneur see to the overall management of all the factors of production. And labor serves as the working force that helps to produce product. 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.

 

[Ryeetar]

Factors of production are land, land is a free gift of nature given to us by God it is where your building takes place without land you can't start up a business. Secondly capital, you need capital before you can think of starting up any business. Thirdly laborers, these are human or machinery equipment that would help in carrying out the business without this too a business cannot hold.

 

[redpogi16]

Factors of production are the resources people use to produce product or goods and any services. They are the building blocks of our economy. Economists divide the factors of production into four categories. These are land where you start your production, labor is the money for production, capital is the money for whole production to start and entrepreneurship.

 

[Caali]

All factors have their own role to produce any item or service. We need four factors.Land, labor, capital and
entreprenuer are the most important factors but any big or small factor contributes in making any product.

 

[eojo2401]

Before going to production, one must consider some factors which includes availability of raw materials, nearest to market, availability of skills labourers as well as efficiency of power supply.

 

[Abisola]

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.

 

[Ogbest]

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 factors of production are very necessary in every business, without them,production will not take place. Capital plays an important role in a business, likewise other factor. I think labour and entrepreneur work hand in hand,but there is a little difference.

 

[idhans]

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?

All the three factors of Labour are just so important that you can't operate without any of them. You might have land but if you don't have a good capital you can't start a business. You can have capital, and land but without skilled labour your business will be jeopardized.

 

[sam386150]

Factors about manufacturing or production is base on the environment your company are located,the major strategy is the quality of product you renders to customers, another fact is how you attend to your clients.

 

[Luckboy]

One could argue that land is most important, since all physical products originate from the resources it provides. However, professional services and software are increasingly important in the modern economy. Therefore, you could argue that labor is the most crucial factor of production

 

[Taimoor Jutt]

Yes you are right it is the basics of any production , we need them to go for products, place or land labor then mentor should be there which will tell you and monitor your mind set. We do not replace because these are the keys of product.

 

[marky]

The normal assets accessible to us can be extended threely. One is the disclosure of new characteristic assets, for example, the revelation of a store of metal containing titanium. The second is the disclosure of new uses for assets, as happened when new procedures permitted oil to be put to beneficial use or sand to be utilized in assembling CPUs. The third is the revelation of better approaches to extricate normal assets to utilize them. New techniques for finding and planning oil stores have expanded the world's stockpile of this significant characteristic asset.

 

[Olubayo12]

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?

Gone are the days when we used to have just four factors of production... now, another factor has been added which is Knowledge. If all the four other factors of production are available and knowledge is lacking, my dear, the production won't be carried out effectively. so knowledge is very important as well.

 

[Rodericklorenzo01]

When you produce products you need to see to it that your purchase land does not compromise your neighbor because when there is a leak of somekind they will not be affected. Also seek permit from the Department of the environment.

 

[Damismiling]

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

Are you confused on the fact that entrepreneur is not a part of the factors of production, entrepreneur is the most important factor of production because they combine all other factors, coordinate them and make things work out

 

[jay]

Production is solely dependent on demand, the higher the demand the more the production. There's nothing else that is dependent on production other than its demand.
Producers in some case stop production so as to increase the demand of their product.

 

[Yaqoob Habib]

No it can't replace it . Every factors of production have their own role to play when production is been done. Each and everyone cant replace each other. Entrepreneur see to the overall management of all the factors of production. And labor serves as the working force that helps to produce product.

The factors of production into four categories,
Land, Labor, capital and entrepreneurship.the first factor of production is land,but this include natural resource used to produce goods and services.

 

[GIFTMICHAEL]

Factors of production are necessary for production to take place. This also includes businesses, for a business to take place all of the above factors must be present. Land, labour, capital and entrepreneur. Now the entrepreneur is the person or a business owner. I wouldn't want to go into details.

 

[Hdre3m3n]

Th factors of production are land,labour ,capital and entrepreneur. Therefore the entrepreneur is one of the factors of production there is a no doubt as there is an evidence in the world.

 

[Khezo]

Labour and entrepreneur are two different things label means skilled for example skilled labour which means the manpower put into things to get that thing done but entrepreneur is like the brain behind the thing and doesn't really mean labour yeah it requires human understanding or knowledge