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UNO [17]
3 years ago
10

Why must the factors of production be considered when starting a new business?

History
1 answer:
Dahasolnce [82]3 years ago
7 0
If businesses can improve the efficiency of the factors of production, it stands to reason that they can create more good at a higher quality and perhaps a lower price. Any increase in production leads to economic growth.
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After the Revolutionary War, the colonists created an executive branch with constitutional limits in order to prevent tyranny from the government and let the states still have power.

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Some people preferred this, as they felt like the power should be in the hands of the people and were scared of tyranny, as they had just broken away from British rule during the Revolutionary War. Still, some people wanted to create a stronger government and felt like the Articles of Confederation were doing more harm than good.

During the Constitutional Convention of 1787, the Articles of Confederation ended up getting scrapped and the United States Constitution was created instead. This created three branches of government, one of them being the executive branch, where the president is. Many people feared that the president would become too powerful, so they made each branch have constitutional limits. These are called separation of powers and checks and balances, each branch is powerful in its own ways and holds certain powers over others to keep each other in check.

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