What is production give an example class 9?

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What is production give an example class 9?

Answer: The first and foremost requirement for the production of goods and services is the land and other factors of production like labour and capital./span>

1 Answer. The foremost requirement is land and other natural resources such as water, forests, minerals, etc.

Q. Who owns means of production in socialism?


Q. What does factors of production mean what are the four requirements for the production of goods and services?

The four factors of production are inputs used in various combinations for the production of goods and services to make an economic profit. The factors of production are land, labor, capital, and entrepreneurship. To put it in different terms, the factors of production are the inputs needed for supply./span>

Q. What is the first and foremost requirement for the production of goods and services Class 9?

Answer: Production is the creation of value in a commodity. For example, manufacturing of a car from steel./span>

Q. Why is Class 9 Farming important?

Answer: Agriculture plays a critical role in the entire life of a given economy. Agriculture is the backbone of the economic system of a given country. In addition to providing food and raw material, agriculture also provides employment opportunities to a very large percentage of the population./span>

Q. What do you mean by production class 9?

Production is the process of creating various goods and services, which are consumed by the people of a country. It is process in which some materials are transformed from one form to another./span>

Q. What is production very short answer?

Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output). It is the act of creating an output, a good or service which has value and contributes to the utility of individuals.

Q. What is production function Class 11?

1. Production function: The relationship between physical input and physical output of a firm is generally referred to as production function. The general form of production function is, q = f ( x1 ,x2)/span>

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