The farming plough is an example of which factor of production?
The farming plough is an example of which factor of production?
Answer:
The farming plough is an instance of labour as a factor in production.
Explanation
The resources that people employ to produce products and services are known as factors of production, and they form the foundation of the economy. Land, labour, capital, and entrepreneurship are the four categories that economists use to classify the components of production.
- A plough is a farm used to loosen and till the soil in order to sow the crops.
- The plough may be wooden, steel or iron, or even horse-drawn.
- It is a traditional farming system, it adds nutrients to the soil and breaks down the hard soil, making it ideal for growing crops.Example: cultivation of crops by the use of labour on land.
Land
It refers to all-natural resources. All-natural resources either on the surface of the earth or below the surface of the earth or above the surface of the earth is Land.
Labour
All human effort that aids in manufacturing is referred to as labour. This endeavour might be either mental or physical in nature. It is a human factor in the manufacturing process. The worker is the one who puts in the effort, has the ability, and has the skills to produce.
Capital
All manufactured resources utilised in the industrial process are referred to as capital. It is a manufactured production factor. Factory, machinery, tools, equipment, raw materials, wealth, and so on are all included.
Entrepreneur
An entrepreneur is someone who brings together many manufacturing variables in one location. He employs them in the manufacturing process. He is the one who makes the decisions.
- What should be produced?
- What is the best place to produce?
- How do you make something?
Refer more
- What are the factors of production? Which is the most important and why?
- Explain the four requirements for production of goods and services
Answer:
The farming plough is an instance of labour as a factor in production.
Explanation
The resources that people employ to produce products and services are known as factors of production, and they form the foundation of the economy. Land, labour, capital, and entrepreneurship are the four categories that economists use to classify the components of production.
- A plough is a farm used to loosen and till the soil in order to sow the crops.
- The plough may be wooden, steel or iron, or even horse-drawn.
- It is a traditional farming system, it adds nutrients to the soil and breaks down the hard soil, making it ideal for growing crops.Example: cultivation of crops by the use of labour on land.
Land
It refers to all-natural resources. All-natural resources either on the surface of the earth or below the surface of the earth or above the surface of the earth is Land.
Labour
All human effort that aids in manufacturing is referred to as labour. This endeavour might be either mental or physical in nature. It is a human factor in the manufacturing process. The worker is the one who puts in the effort, has the ability, and has the skills to produce.
Capital
All manufactured resources utilised in the industrial process are referred to as capital. It is a manufactured production factor. Factory, machinery, tools, equipment, raw materials, wealth, and so on are all included.
Entrepreneur
An entrepreneur is someone who brings together many manufacturing variables in one location. He employs them in the manufacturing process. He is the one who makes the decisions.
- What should be produced?
- What is the best place to produce?
- How do you make something?
Refer more
- What are the factors of production? Which is the most important and why?
- Explain the four requirements for production of goods and services
