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trapecia [35]
3 years ago
11

This is the forces that combine to make the production of products and services possible.

Business
1 answer:
Hatshy [7]3 years ago
8 0

"Factor of Production" is the force that combine to make the production of products and services possible.

Explanation:

Factor of production involves land, labor, capital, and entrepreneurship.

Land:

The important factor is that it creates major revenue through oil, gases and other possible resources which can be obtained from the land.

Labor: Starting from the person who brought bricks to build the company till the top management of the company are part of the Labor factor.

Capital: A factor which implicitly support as a factor of production. Without capital there is no chances of production or providing wages.

Entrepreneurship: These are the brainstorms who plan and create product and sits at the top level and make production and service possible.

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3 years ago
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