Factors of production

[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

 

[nasiusman95]

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

 

[Ibrahim1]

As for me I can't accept and I will go against you by saying NO, I will say every factors of production have their own role to play when production is been done and also business will not be coming....good leadership in a business organization we need to have good leader someone that is worth to be a leader

 

[MercySmith]

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 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

 

[adazeez1995]

I don't think so, they are not exactly the same. An enterprenuer coordinates all the other aspects of production including labour. That means if its a small business, he could also double as the one who provides the labour. But in all, his Coordination and enterprenueral skills are most important.

 

[Tundeoguns1]

Factors of production. That's a very interesting question. There are 4 factors of production which are the land, capital, labour, entrepreneur. To me I think the most important factor of production is either land or entrepreneur. Because without land nothing can be done or produced and without the entrepreneur not is able to control the other factors.

 

[Mostee501]

Factors of production is the instrument humans use to produce goods and services,they are the main factors of economy,economy or businesses cannot function without the factors of production which are land,labor,entrepreneurship and capital.

 

[McChris]

There are so many factors which a producer will determine before producing one goods or the other that is what to produce to whom yo produce and how to produce and also to produce the things you have to know the consumer mind on that gose before going futher

 

[Princeeffiong]

Factors of production which i was taught in school and have also carried out the practical aspect of it. These are the criteria that need to be met before production of goods and services can be made known to the society. Which are Land, Labour, Capita and Entrpreneur. Land is the free gift of nature. Land is given to all mankind by God.

 

[Esther]

The factors of production includes land, labour, capital,raw material, natural resources, information, entrepreneurship etc all these things make up the factors of production you need them for your business it is good to consider all these when starting a business.

 

[Suba]

Production factors are all factors used to produce or increase the value of goods including natural resources, labor (labor), capital and companies or entrepreneurs. Of course, labor cannot replace the entrepreneur, because the entrepreneur's job is to combine all the factors of production. while the workforce only works in accordance with their field or expertise.

 

[akinlolu99]

Creation factors are seen as especially those wellsprings of information whose abundance isn't out and out, for instance, certain regular resources ( barometrical air, for example). Moreover, with everything taken into account terms, four main issue are continually seen as in any creation cycle: land, work, capital, and affiliation/data. So no it can't supplant it.

 

[Pauljonnes1000]

Factors of production includes land, labour, enterprenure, capital. For any production to take place, it must be on the land. Also capital is required to kick start the business, either his own money or money been borrowed. Also the person who wants to produce must be a good enterprenure, he must gather information on where, how and when the production should take place. Lastly is labour, the reward for labour is wages. The owner of the business should put his mind on paying money for labour.

 

[Ezzyoj]

Those are the factors that constituent production and they are all necessary in the process of production. Land is very important because business activities must take place in a place. Capital is the major factor, without capital business can not start. Labor is also important in production, either it is human

 

[Samson19]

Factors of production refer to as agent, component and resources which are combined to produce goods and services,we have some factors of production they are
Land
Labour
Capital and
Entrepreneur

 

[Abezol21]

The factors of production include land, labor, capital and entrepreneurship. The state of technological progress can influence the total factors of production and account for any efficiencies not related to the four typical factors.

 

[Billy]

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?

I dont get your question. Are you asking whether Labor can replace entrepreneur on the list? The two are totally unrelated. One is about workmanship.

 

[Samuel77]

When it comes to factor of production labour can never stay in place of entrapreneur, this is because labour can be done by any man without learning any thing, but entrapreneur required great skills and ideas.

 

[Setho]

This is just like the economics we were being taught in secondary school really. This are off course the factors that are necessary for production of any kind though I do not understand how you want lab our to take the part of entrepreneur because all of the are very important.

 

[Victor72]

I think it doesn't really don't believe labour can take the place of enterprenuer when it comes to factor of production this is because entrepreneurship is all about brain work,