Factors of production
Free Enterprise
No, as itβs possible for the state to own some or most of the means of production. This would be state capitalism
There are four different factors of production and they are land, labor, capital and enterprise. These four factors are necessary in producing a commodity.
If you privately own the means of production, you probably will 'produce capitalism.' The means of production: factories, machines, tools et. all. Classic factors: land, labor and capital stock (+ entrepreneurship).
Factors of production
Free Enterprise
No, as itβs possible for the state to own some or most of the means of production. This would be state capitalism
The four factors of production are: Natural resources Capital Labour Entrepreneurship.
There are four different factors of production and they are land, labor, capital and enterprise. These four factors are necessary in producing a commodity.
If you privately own the means of production, you probably will 'produce capitalism.' The means of production: factories, machines, tools et. all. Classic factors: land, labor and capital stock (+ entrepreneurship).
WHAT ARE THE FOUR FACTORS OF PRODUCTION FOR A CAR!? not land labor capital goods and entrepreneurship but what are the actual items
The four factors of production (land, labor, capital and entrepreneur) must all present if you wish to improve the economic level of production.
Capital
Australia's (and every other country) four factors of production are:LandLabourCapitalEntrepreneurship.Hope this helps
The remuneration of the four factors of production; land, labour, capital and enterprise are respectively, rent, wages, interest and profit.
The four factors of production earn the following income:Land earns rent.Labour earns wages.Capital earns interest.Entrepreneurship earns profit.Refer to "Factors of productions?" for the definition of each factor of production. This can be found at [ Factor_of_production]