photo

Forex Community Place

Earn up to
$50000
for inviting friends
to get StartUp Bonus
from InstaForex
No investments required!
Start trading without
any investments and risks
WITH NEW STARTUP
BONUS 1000$
GET BONUS
55%
from InstaForex
on every deposit
  • Amazed
  • Amused
  • Angelic
  • Angry
  • Asleep
  • Bashul
  • Bitchy
  • Blah
  • Bored
  • Breezy
  • Brooding
  • Busy
  • Buzzed
  • Chatty
  • Cheeky
  • Cheerful
  • Cold
  • Confused
  • Cool
  • Crappy
  • Cynical
  • Daring
  • Dead
  • Devilish
  • Doh
  • Doubtful
  • Drunk
  • Fine
  • Flirty
  • Goofy
  • Grumpy
  • Happy
  • Hot
  • Hungover
  • Innocent
  • Inspired
  • In_Love
  • Lonely
  • Lurking
  • Mellow
  • Paranoid
  • Pensive
  • Psychedelic
  • Relaxed
  • Sad
  • Scared
  • Shocked
  • Sick
  • Sleepy
  • Sneaky
  • Stresses
  • Tired
  • Twisted
  • Worried
  • Yeehaw
  • Reply to Thread
    Page 2 of 2 FirstFirst 1 2
    Results 11 to 18 of 18

    Thread: what are the factors of production?

    1. #11
      It's time to retire!
      I am:
      Cheerful
       
      adewale has a reputation beyond repute adewale has a reputation beyond repute adewale has a reputation beyond repute adewale has a reputation beyond repute adewale has a reputation beyond repute adewale has a reputation beyond repute adewale has a reputation beyond repute adewale has a reputation beyond repute adewale has a reputation beyond repute adewale has a reputation beyond repute adewale has a reputation beyond repute adewale's Avatar
      Posts
      17,988
      Accumulated bonus
      4951 USD (What is this?)
      caught pokemons
      6 (What is this?)
      Thanks
      10,974
      Thanked 10,308 Times in 3,485 Posts

      Default Re: what are the factors of production?

      There are essential four factors of production and the entrepreneur, the labour, land and of course the capital requirements, these are the main things that anyone needs to set a business, let's take a critical analysis of this factors of production in the Forex market, the labour is the process of learning about the business, at this stage, what the Forex trader need is practice, this is time consuming, that is where the labour element of the factors of production comes into action, the capital is very important too because that is what will be required once the labour aspect has been satisfied. Factors of production is a requirement for all businesses.
      Check Out My Journal My Ichimoku+200 EMA Strategy

      Jesus Loves You;Jesus Saves!


    2. For the posts posted after 23.10.18, the likes will be displayed after 23.12.18
    3. #12
      MT5 Addict
      I am:
      ----
       
      ibikunle has a spectacular aura about ibikunle has a spectacular aura about ibikunle has a spectacular aura about ibikunle's Avatar
      Posts
      403
      Accumulated bonus
      48 USD (What is this?)
      Thanks
      163
      Thanked 1,272 Times in 358 Posts

      Default Re: what are the factors of production?

      A production is built on four major factors which are

      land: land refers to all natural resources which are free gifts of nature. Land, therefore, includes all gifts of nature available to mankind which can be used for production of goods.

      labour: labour is the physical work or effort of the people on the production process. This can include, person operating production machines etc

      Entrepreneur: entrepreneurs is the brain behind the production or a business, they brought all other factors of production together to achieve a goal.

      Capital: this is the money used in financing the production, from payment of wages, to purchasing of materials.


    4. For the posts posted after 23.10.18, the likes will be displayed after 23.12.18
    5. #13
      FX Super Hero
      I am:
      ----
       
      paulokepaul has much to be proud of paulokepaul has much to be proud of paulokepaul has much to be proud of paulokepaul has much to be proud of paulokepaul has much to be proud of paulokepaul has much to be proud of paulokepaul has much to be proud of paulokepaul has much to be proud of paulokepaul has much to be proud of paulokepaul has much to be proud of paulokepaul's Avatar
      Posts
      1,585
      Accumulated bonus
      845 USD (What is this?)
      Thanks
      1,448
      Thanked 1,505 Times in 772 Posts

      Default Re: what are the factors of production?

      Factors of production can be defined as all the resources needed in production of goods and services , it also be seen as require inputs in production of goods and services . The out put of production(goods and services) depends on quantity and quality of input ( Factors of production). There are different opinions in number of factors of production. some school of thought argue that there are four while some believe that they are seven. But for me , there are four which include as thus:
      Land- this include all the natural resources needed for production of goods and services.
      Capital. this is man made resource that involve in production, it is generally seen as money for payment of labor
      Labor. this entail human resources
      Enterprise /entrepreneur- this include management that organize all other factors.


    6. #14
      It's time to retire!
      I am:
      Happy
       
      Honest has a reputation beyond repute Honest has a reputation beyond repute Honest has a reputation beyond repute Honest has a reputation beyond repute Honest has a reputation beyond repute Honest has a reputation beyond repute Honest has a reputation beyond repute Honest has a reputation beyond repute Honest has a reputation beyond repute Honest has a reputation beyond repute Honest has a reputation beyond repute Honest's Avatar
      Posts
      17,528
      Accumulated bonus
      4583 USD (What is this?)
      Thanks
      2,185
      Thanked 2,390 Times in 744 Posts

      Default Re: what are the factors of production?

      The factors of production are basically categorized into four sub heading, from what I have known about the forex market, we don't even need everything to be established in this market, take land that is one of the factors of production as examples, you don't need to start saving up for money that you need to buy a plot of land and start trading, forex is a lot cheaper and better than this, you don't even need am office because it can be operated from the comfort of your home.

      CCapital and the entrepreneur is easy, labour is needed, the factors of production according to my understanding means that a manufacturing company is the best that would find this useful.


    7. For the posts posted after 23.10.18, the likes will be displayed after 23.12.18
    8. #15
      MT5 Addict
      I am:
      ----
       
      preferito has a spectacular aura about preferito has a spectacular aura about preferito's Avatar
      Posts
      451
      Accumulated bonus
      235 USD (What is this?)
      Thanks
      44
      Thanked 204 Times in 149 Posts

      Default Re: what are the factors of production?

      Factors of production are the prerequisites for production. They are what must be on ground before production can take place. There are four basic factors of production in economics. They are land, labor, capital and entrepreneur. Land is the first factor to be put in place before production can take place. In fact all other factors of production relies on land in order for production to take place. Labour is also needed in order for production to take place. It is needed because without labor there cannot be the manpower that will do the work. Capital is also needed because it is the resources that will be used to purchase all the needed instruments and machinations for production. Lastly, entrepreneurship is needed because it involves the ability and capacity of persons who make sure that things are getting done.


    9. #16
      Forex in the blood
      I am:
      Daring
       
      Thandeka is a splendid one to behold Thandeka is a splendid one to behold Thandeka is a splendid one to behold Thandeka is a splendid one to behold Thandeka is a splendid one to behold Thandeka is a splendid one to behold Thandeka is a splendid one to behold Thandeka is a splendid one to behold Thandeka's Avatar
      Posts
      271
      Accumulated bonus
      173 USD (What is this?)
      Thanks
      1,299
      Thanked 931 Times in 225 Posts

      Default Re: what are the factors of production?

      The factors of production are land, labour, capital and entrepreneur, when these things are put onto place then a production process can take place without any hitches, but when someone that wants to start a business does not have one of these, it will be impossible to have a good business that will be operational, let's take for example when there are land, capital and the entrepreneur and there is no labour, it means that you will not have capacity to produce what you started the business for, all that factors of production should be planned for before you can have a complete starter pack for a business to kick off properly.


    10. For the posts posted after 23.10.18, the likes will be displayed after 23.12.18
    11. #17
      MT5 Rookie
      I am:
      ----
       
      binary2 is on a distinguished road binary2's Avatar
      Posts
      46
      Accumulated bonus
      0 USD (What is this?)
      Thanks
      4
      Thanked 17 Times in 11 Posts

      Default Re: what are the factors of production?

      Production factors are an economic term which describes the inputs used to produce goods or services for economic profit. They contain every resource required to create a good or service. Production factors include land, labour, capital and enterprise. Management, machinery, materials and labor and knowledge ha are also known for these factors.The modern definition of production factors is mainly based on a neoclassical economic view. It combines past approaches to economic theory, such as the idea of work as a factor of socialism production, into a single definition.


    12. #18
      Forex in the blood
      I am:
      ----
       
      Joyu has much to be proud of Joyu has much to be proud of Joyu has much to be proud of Joyu has much to be proud of Joyu has much to be proud of Joyu has much to be proud of Joyu has much to be proud of Joyu has much to be proud of Joyu has much to be proud of Joyu has much to be proud of Joyu's Avatar
      Posts
      397
      Accumulated bonus
      248 USD (What is this?)
      Thanks
      1,590
      Thanked 1,439 Times in 332 Posts

      Default Re: what are the factors of production?

      The entrepreneur is the most important factor of production because he is the chief organiser that will ensure that all other factors of production are utilised properly, without the entrepreneurs then the capital will be useless because a vehicle that does not have a driver is just a piece of equipment that is worthless, when we are discussing about the factors of production, we should understand that each business is unique, anything that is done in the Internet might require a different style, I also believe that it is time for a review of the factors that make up the production process to reflect the reality of this new technological age that we have found ourselves.
      Divergence: How I trade it


    13. For the posts posted after 23.10.18, the likes will be displayed after 23.12.18
    Reply to Thread
    Page 2 of 2 FirstFirst 1 2

    Posting Permissions

    • You may not post new threads
    • You may not post replies
    • You may not post attachments
    • You may not edit your posts