Factors of production

[oluwaseun tope]

Factors of production are land , labour ,capital and enterpreneur these are the factors of production , the Land is a natural gift , capital is the money use in setting up a business , labour these are the workers

 

[Yasmin]

The modern definition of factors of production is primarily derived from a neoclassical view of economics. It amalgamates past approaches to economic theory, such as the concept of labor as a factor of production from socialism, into a single definition. factors of production are the resources.

 

[Xerryl]

Production factors are perceived as particularly those sources of info whose wealth isn't outright, for example, certain common assets ( barometrical air, for instance). Furthermore, all in all terms, four central point are constantly viewed as in any creation cycle: land, work, capital, and association/information. So no it can't replace it.

 

[Anas Chaudhary]

Natural Resources. Everything made of natural materials.
raw material. Used in the manufacture of any other equipment
Laborer. All physical and mental work is required to manufacture goods or services
The capital
Information
Business promotion.

 

[Kelvin7656]

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.

 

[Muhammadawais]

Production factors are the resources that people use to make goods and services. They are the backbone of the economy. Economists divide the factors of production into four types: land, labor, capital and business.

 

[Presh1503]

The factors of production like you have mentioned includes
Land
Labour
Capital
Entrepreneur
These are the basic factors of production and one cannot replace the other because each one of them is very important in production

 

[Praizee]

The factors of production is land, labour, capital and entrepreneur. This factors are very essential in business they are are crucial and vital. Land is where the company or industry will be built. Capital will be use to start the business. Labour will be needed to make profits. Entrepreneur is the owner of the company who owns and controls the whole business.

 

[MarieArie]

For all the natural resources needed for the production of supplies, land is short. They include raw property and all that falls from the ground. It may be a non-renewable resource. That includes commodities such as oil and gold. It may also be a resource, like timber, that is renewable. Until man alters it from its original state, it becomes a capital good.

 

[Blue house]

In economics, production factors are known as inputs and resources, both human and of another nature, on whose availability and correct management depends on the generation of wealth in any economic system. Ie it is named for the "inputs" of any production process, without which it can not obtain an "exit" meeting the needs of goods and services of the human being.

 

[Mahnoor]

The four factors of production are land, labor, capital, and entrepreneurship.1 They are the inputs needed for supply. They produce all the goods and services in an economy. That's measured by gross domestic product.

 

[Onachukwu]

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.

 

[Akinwale701]

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?

Factors of production now comprise Knowledge as well... meaning they are now five as against four which we were thought those days... knowledge is required for the entrepreneur to be able to coorDinate every other factor of production effective

 

[Chibson]

The factors of production are those things that facilitate the making of production of things. Without the factors of production there will be no way production will take place. So some of the factors of productions are her land, enterprenuer, labour and capital.

 

[Folaham]

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?

Labour can't stay in place of entrepreneur as they are all separate element (factor) of production. Owning a business and working in it looks so similar but the work can be quantified and the business be set free by paying for the service of all involved

 

[Layefa94]

This is a reminder of my secondary school days, I could remember then when we were taught production, we were made to understand that be have four factors of production, we have land , labour , entrepreneur and capital, labour is totally different from entrepreneur although in a small organization it might be combined

 

[Neta Sam(Samuel Odunlade)]

Factors of production are needed to have a smooth production. You need Capital Land or space, resources like inputs to produce and labour either for the product. Available ingredients

 

[Tinaconcept]

Yes we have four factors of production and they are
Land
Labour
Capital
Entrepreneur. Land is the fixed asset, labour the human needed to carry out the job, capital money to start up the business

 

[Veetos12]

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

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?

No. You cannot put labor in the place of entrepreneur because they are different factors of production. Labor does not mean who is working but the effort made in ensuring a service or goods is ready for delivery while entrepreneur is the one who is directly involved in combining all other factors of production.

 

[Kehinde]

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.