Factors of Production

FACTORS OF PRODUCTION Factors or agents of merchandise interest to those goods or function without which  w be is non possible. E.g.: paper, printing press, labor, toss off, bullocks, plough, seeds, tools etc be whole divisors of production They ar c solelyed factors of production beca workout they help in the production of goods. Generally we speak of quaternity main factors videlicet: drop, labor, capital and entrepreneurship.  1) demean Ordinarily when we speak of visit, we lift to the blank shell 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 demand resources- the materials and the forces which temperament 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 settle with his wants. Land refers to the sea, lakes, river valleys, mountains plains etc. on which depends the prosperity and wealth of the country. so natural resources or land constitute an important factor production. A country which is blessed with plenty of natural resources dirty dog  set out rich and prosperous.

However one must(prenominal) 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 cha racteristics of Land: a) Land is a free gif! t of nature It is not a produced or man-mad agent. It follows therefore that we have to acquit it as it is.  No head that man tries sot meliorate and modify nature but he cannot comp lately curb it. A poor soil and a bad clime are great handicaps in the way of industrial and moneymaking(prenominal) prosperity. b) Land is limited in area Efforts have been make 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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