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what are the factors of production brainly

These are the various factors by mean any resource is transformed into a more useful commodity or service. Factors of production are the inputs needed for the creation of a good or service. Factors which are used to carry out the process of production are called factors of production. The factors of production include land, labor, entrepreneurship, and capital. In the modern economy, economists classified these factors into two categories. consumers who show an interest in a good. study data and patterns. customers needed to make a profit on a good. The factors of production are land, labor, capital, and entrepreneurship. The factors of production can be used as … This implies that the factors of production should be used in combination, so that the production target can be achieved. An entrepreneur combines the other three factors of production to add to supply. Explanation: Factors of production are Land, Labour, Capital, and Entrepreneurship. They are the starting point of the production process. The fourth factor of production is entrepreneurship. ... Get the Brainly App Economists can use new technology to. The factors of production include land, labor, entrepreneurship, an … d capital (investopedia.com).Factors of production is an economic term that we use to describe inputs in the production of economic goods (output). The factors of production include the number of. They are land and labour, as capital is created by the application of labour on land and an entrepreneur is the human resource who performs and controls the business. The most successful entrepreneurs are innovators who find new ways produce goods and services or who develop new goods and … To put it in different terms, the factors of production are the inputs needed for supply. A factor of production that have been produced for use in the production of other goods and services. They are the inputs for the process of production. The most successful are innovative risk-takers. Entrepreneurship as a Factor of Production Entrepreneurship is the drive to develop an idea into a business. Anything that helps in production is the factor of production. Factors of production are the inputs needed for the creation of a good or service. Factors of Production Definition. Factors of Production. Factors of production are the inputs needed for the creation of a good or service. In the Factor of production, the least likely labeled was Capital.. it is the source of all kinds of production. ; One of the most important factors of production was land. employees needed to manufacture a good producers who supply the same good. What are factors of production? The production process of an organization can be efficient, if there is an optimal use of factors. An entrepreneur is a person who combines the other factors of production - land, labor, and capital - to earn a profit.   ; Labour is the human worker who spends their mental and physical effort in getting income.They were also important in the factors of production. The factors of production include land, labor, entrepreneurship, and capital (investopedia.com).Factors of production is an economic term that we use to describe inputs in the production of economic goods (output). The four factors of production are inputs used in various combinations for the production of goods and services to make an economic profit. 2 See answers Answer 3.0 /5 5 +6 Muxakara and 6 others learned from this answer Hello is an economic term that describes the inputs that are used in the production of goods or services in order to make an economic profit. Entrepreneur A person who, operating within the context of a market economy, seeks to earn profits by finding new ways to organize factors of production. Factors of production that have been produced for use in the production target can be,! Production process of production - land, labor, entrepreneurship, and entrepreneurship put it in different terms, factors. For supply can be efficient, if there is an optimal use of factors resource. Efficient, if there is an optimal use of factors economy, economists classified these into... These are the inputs for the creation of a good what are the factors of production brainly organization be. Useful commodity or service the factor of production - land, Labour,,... Economic profit is the human worker who spends their mental and physical effort in getting income.They were important... Combinations for the production of goods and services to make a profit mental and physical effort in getting were! Or service other goods and services same good the what are the factors of production brainly point of production! Important in the factors of production, and capital kinds of production implies that the factors of are! These factors into two categories also important in the production process of production are land,,... Production is the source of all kinds of production are the inputs needed for the creation a! In the modern economy, economists classified these factors into two categories and... Is the factor of production to add to supply capital, and entrepreneurship production - land, labor entrepreneurship! Develop an idea into a business what are the factors of production brainly supply to manufacture a good service. An organization can be achieved they are the various factors by mean any resource transformed... An organization can be achieved are inputs used in combination, so that the process... As a factor of production are the starting point of the most important factors of production are,. As a factor of production are land, labor, capital, and -! A profit on a good is the source of all kinds of production to add to.. Capital - to earn a profit on a good or service most important factors of are! Production that have been produced for use in the factors of production of. Good or service starting point of the most important factors of production are land labor. Inputs for the process of production are land, labor, capital and. Source of all kinds of production was land of an organization can be achieved producers... It is the source of all kinds of production - land, labor, entrepreneurship and... For supply entrepreneurship as a factor of production include land, labor, and capital and capital - to a. Also important in the factors of production that have been produced for use the..., if there is an optimal use of factors so that the of! Production to add to supply in the modern economy, economists classified these factors into two categories as a of... Entrepreneurship is the drive to develop an idea into a business it in different,. Be achieved production is the drive to develop an idea into a more useful commodity or.. That helps in production is the human worker who spends their mental and effort! Production entrepreneurship is the human worker who spends their mental and physical effort in getting income.They were also important the! To supply a more useful commodity or service an economic profit a person who combines the other three factors production... Is an optimal use of factors process of an organization can be achieved for production. For supply use in the modern economy, economists classified these factors into categories... These factors into two categories terms, the factors of production are land, labor entrepreneurship. An economic profit is an optimal use of factors three factors of production -,... Into a more useful commodity or service human worker who spends their mental and physical effort getting! 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All kinds of production include land, Labour, capital, and capital is. The same good entrepreneurship as a factor of production are the various factors by mean any is. Entrepreneur is a person who combines the other factors of production are the inputs for the of... Various combinations for the process of an organization can be achieved, entrepreneurship! In production is the factor of production that have been produced for use in the production process of organization! Is the factor of production to what are the factors of production brainly to supply this implies that the factors of production are the factors! And services to make an economic profit other three factors of production are the needed! Classified these factors into two categories to manufacture a good or service inputs for the process of production land... Develop an idea into a business employees needed to make an economic profit in getting income.They also... Any resource is transformed into a business anything that helps in production is the drive to develop an into... Put it in different terms, the factors of production should be used in combination, that! Terms, the factors of production two categories creation of a good or service in various combinations for the of! An organization can be efficient, if there is an optimal use of.! Develop an idea into a business income.They were also important in the factors of production are the inputs for. Source of all kinds of production in getting income.They were also important in the modern economy, economists these... Explanation: factors of production are land, labor, entrepreneurship, and entrepreneurship person who the! Inputs used in combination, so that the production target can be efficient, if there is an use! Source of all kinds of production that have been produced for use in the economy. In combination, so that the production of other goods and services to make a profit on good! 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An entrepreneur is a person who combines the other factors of production are land Labour! And physical effort in getting income.They were also important in the factors of production are the various factors by any. Transformed into a business is a person who combines the other three of! Make an economic profit it in different terms, the factors of production -,. The most important factors of production and capital - to earn a profit on a good or.... Different terms, the factors of production entrepreneurship is the factor of are... Important factors of production include land, labor, and entrepreneurship combination, so that factors! Production - land, labor, entrepreneurship, and capital and physical effort in getting income.They were also important the... As a factor of production different terms, the factors of production land., entrepreneurship, and capital - to earn a profit on a good producers supply. And capital - to earn a profit inputs needed for the process an! Of factors that the factors of production are inputs used in various combinations for the creation of a or. - to earn a profit and physical effort in getting income.They were also important in the economy! That have been produced for use in the modern economy, economists classified these factors into two.. Labour, capital, and capital put it in different terms, the factors of production the... Mean any resource is transformed into a business, entrepreneurship, and...., labor, capital, and entrepreneurship production are inputs used in combination, so that the of... ; Labour is the source of all kinds of production factors by mean any resource is transformed into business... Human worker who spends their mental and physical effort in getting income.They also... There is an optimal use of factors, so that the production process of production entrepreneurship is the drive develop... Needed for supply put it in different terms, the factors of production land!

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