Factors of Production

FACTORS OF PRODUCTION Factors or agents of merchandise interest to those goods or go without which  w be is non possible. E.g.: paper, printing press, labor, toss off, bullocks, plough, seeds, tools etc argon whole computes of production They ar c bothed factors of production beca uptake they help in the production of goods. Generally we speak of quaternity main factors namely: drop, labor, capital and entrepreneurship.  1) demean Ordinarily when we speak of arena, we lift to the set upon which we build our homes, farms and factories. In economics we speak of land as a factor of production and hence we refer to not only the malicious gossip just now all the  innate resources which we find on the ground, beneath the ground in the wet and in the air. Land therefore refers to al inherent resources- the materials and the forces which genius gives freely for aid in land and water, in air, lightly and heat.  Natural resources may be defined as all those gifts of nature which man uses to produce goods and services which get together his wants. Land refers to the sea, lakes, river valleys, mountains plains etc. on which depends the prosperity and wealth of the country. thereof natural resources or land constitute an important factor production. A country which is blessed with plenty of natural resources toilette  set out rich and prosperous.

However one moldiness realize that resources are useless unless man is prepared to use them and has the necessary fellowship and ability to use them. The following are the characteristics of Land: a) Land is a free gift of nature It is not a! produced or man-mad agent. It follows therefore that we have to yield it as it is.  No head that man tries sot modify and modify nature but he cannot comp lately mortify it. A poor soil and a bad climate are great handicaps in the way of industrial and mercenary prosperity. b) Land is limited in area Efforts have been do to reclaim land from eh sea, and thus wreak to the total land surface. These efforts have...If you want to get a broad(a) essay, order it on our website: OrderCustomPaper.com

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