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What is the aim of production? What are the requirements for production?

A.  The aim of production is to produce the goods and services that we want. There are four requirements for production of goods and services.

a.  Land and other natural resources such as water, forest, minerals, etc.

b.  Labour i.e. people who carry out the work for production.

1.  Skilled labour: Highly educated workers to perfARm the necessary tasks.

2.  Semiskilled labour or unskilled labour: They can do manual  work.

c.  Physical capital: The variety of inputs required at every stage during production.

1.  Fixed capital: They can be used in production over many years.

2.  EX: Tools, machines and buildings.

3. Working capital: The raw material and money in hand are called working capital. They are used  up in the process of production and alter from day-to-day.

d.  Human capital: Human knowledge and enterprise is needed to put together land, labour, and physical capital and produce an output. This is called human capital.

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 The aim of production is to produce the goods and services that we want. There are four requiremens for production of goods and services. Land, Labour, physical capital and Human capital.

Factors of production are the resources that help to produce goods and services.

For example, Land, Labour, Market, Capital are the main factors of production

  • land : it is a great factor of production as is a solid surface on which production takes place.
  • labour : it helps in making the products and services.
  • market :market is an arrangement for free buying and selling activities for all and it give fair opportunities of earning to all
  • capital :Capital is a factor of production that helps in the production of other goods
  • n for Human Capital.
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5 point is wrong 

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As it is

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The aim is to produce several goods that we want . The four requirements are : 1) Land 2) Labour 3) Physical capital 4) human capital.
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Bitcha
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The aim of the production was only to provide goods and services to people who need it like us. Actually their intention was to sell them
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Aim of Production :-
The aim of production is to produce the goods and services to generate wealth that we want for ourselves.

There are four requirements needed for the production of goods and services. These are described as follows.

1) Land -
Land is fixed and immobile in nature. Land is a free and a valuable gift by nature to mankind. It is used for various purposes such as mining, agriculture, running an industry etc. It is an important requirement for production of goods and services. Without land, production is impossible. Rent is the remuneration for land.

2) Labour -
Labour means human force. Things cannot be produced unless someone makes them. Labour represents all the people that are available to transform resources into goods or services that can be purchased. Labour is not fixed, rather it is mobile in nature. Labour move from one place to another place, one employer to another employer, in search of better opportunity. Wage rate is the remuneration for labour. Labour is another important requirement for production of goods and services.

3) Capital -
we will need money to produce any kind of goods or services. So, capital is called the life blood of all economic activities. It's what capital allows labour and land to be purchased. Steady streams of capital are often required in order to keep a business going. Capital can be further divided into two - fixed capital and working capital. Interest is the remuneration for capital.

4) Human Capital or Entrepreneur -
Entrepreneur is the person who is combining all the requirements of production of goods or services. He puts together land, labour and capital to produce the desired goods or services. The entrepreneur takes risks as he invests his capital in the business. Profit is the remuneration for entrepreneur.

 
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The aim of production is to produce good and services that we want. The requirements for production are : Land and water Labour's, people who will do the work Physical capitals like tools , machines, buildings can be used up in fixed capital. Raw materials and money can be used in working capitals Human capital.
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 What is the aim of production? State any four requirements for the production of goods and services.
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The Aim of production is to produce the goods and services that we want. The requirement for production is:
  • Land
  • Labour 
  • Physical Capital 
  • Fixed Capital
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The aim of production is to produce the goods and services that we want . The requirement of production is:
1.  land
2.  labour
3.  physical capital
4.  fixed capital
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The aim of production is to produce good and Services is aim of production. Example production of cotton and cloth
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The aim of production of products what we need. Requirements for production are: land, labour, physical capital and human capital ..
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Please find this answer

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Dear Student

There are four factors of production- Land, Labour, Capital and Entrepreneurship. Land is fixed resource because it cannot be increased. There is a lot of pressure on the land due to increasing population.?The quantity of land can not be increased but its quality may be improved to foster production activities.Supply of land is fixed.

Regards

?
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The aim of production is to increase utility[usefulness] and services of something. requirements of production are
1.land:all free gifts of nature[soil,water,forests etc.]
2.labour:people who will do the work and earn their income
3.phisical capital:it includes fixed capital and working capital.
they are also known as factors of production

fixed capital:tools, machines, building can be used in production over many years are known as fixed capital

working capital: raw material and money in hand are known as working capital
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The aim of production is to increase utility[usefulness] and services of something. requirements of production are
1.land:all free gifts of nature[soil,water,forests etc.]
2.labour:people who will do the work and earn their income
3.phisical capital:it includes fixed capital and working capital.
they are also known as factors of production

fixed capital:tools, machines, building can be used in production over many years are known as fixed capital

working capital: raw material and money in hand are known as working capital
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Please find this answer

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Aim of production is to provide goods and services to the people .
Requirements for production are:-
1.Land
2.Labour
3.Physical capital
4.Human capital
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Production is made by farmers, companies and industries with the aim to grow their capita pre income and increase profit because capita/income is the basic root for a company to grow its limits and produce more products.
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The aim of production is to provide goods and services that we want.

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Production is the query of any given ideas of any person other than that of any action taken or not ok madam I would be a part of any person who has the query please write me back with me on my pleasure is mine can you so gye na na isliye to bol q rhe hain
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