Every firm which starts it,s business in any area whether manufacturing automobile, opening a steel plant he has to at the beginning keep in mind the factors of production and then start the business or manufacturing factory ....they are the pillars of manufacturing unit or starting of any enterprise .
Every company that starts it,s business should have these have factors of production they are :
1. LAND : For a factory to start it should have a land in which he would open it,s manufacturing unit so that the production would be started . either the businessman owns a land or he takes it from the government for a term of years as the agreement states .
2. LABOUR : The labour or the employees or workers play a important role in manufacturing the product there are several departments in which there are hired and they work as a team for factory properly .
3.CAPITAL : capital or money is the life blood of a business without it no one can start a business unit or a set up a manufacturing unit .
4. ENTERPRISE : The enterprise as a whole the owner or the entrepreneur combines all factors of production and run the firm or business by taking risk ..
this a Brief about factors of production .... if you have any question regarding this post do comment me and ask me ,,,,,i would answer you ..
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