Explore why some economists identify entrepreneurship alongside land, labor, and capital in production, and its role in driving innovation and economic efficiency.

The factors of production are the inputs used to produce a good or service in order to produce income. Economists define four factors of production: land, labor, capital and entrepreneurship. These ...

You need resources to produce goods and services. Relative to the needs and wants of businesses and people, however, the economic resources to produce them are finite, and therefore subject to ...

I will want to also add a few more phenomena to inform a new thinking around ‘Factors of Production’, and by extension, to help power up productivity, especially in Nigeria and Africa. This is because ...

As a manufacturer or production manager, production planning is important in knowing what needs to be done to meet production deadlines or targets. Drafting an effective production plan that has the ...

Can the biodiversity of ecosystems be considered a factor of production? Researchers are studying the economic benefits that farmers and foresters can obtain by focusing on several species instead of ...