Factors of Production

FACTORS OF PRODUCTION Factors or agents of merchandise interest to those goods or run without which  w be is non possible. E.g.: paper, printing press, labor, toss off, bullocks, plough, seeds, tools etc argon whole parts of production They ar c every(prenominal)ed factors of production beca intention they help in the production of goods. Generally we speak of quaternity main factors that is to say: drop, labor, capital and entrepreneurship.  1) demean Ordinarily when we speak of cut, we lift to the spot 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 essential resources- the materials and the forces which genius gives freely for aid in land and water, in air, lightly and heat.  Natural re sources may be defined as all those gifts of nature which man uses to produce goods and services which match his wants. Land refers to the sea, lakes, river valleys, mountains plains etc. on which depends the prosperity and wealth of the country. and then natural resources or land constitute an important factor production. A country which is blessed with plenty of natural resources lavatory  set out rich and prosperous.

However one mustiness 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 characterist ics of Land: a) Land is a free gift of nat! ure It is not a produced or man-mad agent. It follows therefore that we have to call for it as it is.  No head that man tries sot purify and modify nature but he cannot comp lately overshadow it. A poor soil and a bad humour are great handicaps in the way of industrial and mercantile 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: BestEssayCheap.com

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