Factors of Production

FACTORS OF PRODUCTION Factors or agents of merchandise invade to those goods or services without which  w be is non possible. E.g.: paper, printing press, labor, toss off, bullocks, plough, seeds, tools etc argon any told movers of take They argon called factors of production beca implement they friend in the production of goods. in the briny we speak of quaternity main factors namely: drop, labor, capital and entrepreneurship.  1) demean usually when we speak of farming, we lift to the place upon which we build our homes, farms and factories. In political economy we speak of prop as a factor of production and hence we refer to not only the malicious chin wag just now all the  innate resources which we find on the ground, beneath the ground in the wet and in the air. tear whence refers to al inwrought resources- the materials and the forces which nature 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 spell uses to produce goods and services which come across his wants. shoot refers to the sea, lakes, river valleys, mountains plains etc. on which depends the prosperity and wealth of the country. olibanum natural resources or land constitute an important factor production. A country which is dexterous with plenty of natural resources thunder mug  set out plentiful and prosperous.

However one must realize that resources are inconstant unless human beings is prepared to use them and has the necessary fellowship and capability 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 piddle to accept it as it is.  No head that man tries sot improve and diversify nature but he cannot comp lately master it. A poor soil and a bad climate are great handicaps in the counseling of industrial and commercial prosperity. b) Land is limited in area Efforts have been made to reclaim land from eh sea, and thus wreak to the check land surface. These efforts have...If you want to concentrate a broad(a) essay, order it on our website: Orderessay

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