Advertisements
Advertisements
प्रश्न
Mention two differences between an entrepreneur and other factors of production.
टीपा लिहा
उत्तर
- Human capital engages other factors of production such as land, labor, and capital, but the entrepreneur is not engaged by other factors of production.
- The entrepreneur assembles all factors of production and puts forth a new business idea to generate profits, whereas other factors of production receive compensation for their productive services by contributing to the entrepreneur's idea.
shaalaa.com
Factors of Production
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
APPEARS IN
संबंधित प्रश्न
What are the factors of production?
Entrepreneurship is otherwise called ______.
______ are called factors of production.
Use of high yielding variety of seeds of related to productivity of ______.
The reward of an entrepreneur is in the nature of ______.
The Indian labour suffers from low efficiency. Explain your answer with three reasons for low efficiency of Indian labour.
Which of the following is not a correct match?
Match the following and select the correct option.
| Factor of Production | Reward of factor of production | ||
| (i) | Land | (A) | Wage |
| (ii) | Labour | (B) | Profit |
| (iii) | Capital | (C) | Rent |
| (iv) | Entrepreneur | (D) | Interest |
Match the following:
| Column I | Column II |
| 1. Factors of production | P. Human resources |
| 2. Land | Q. Man-made resources |
| 3. Capital | R. Economic resources |
| 4. Entrepreneur | S. Natural resources |
Choose the correct alternative:
Define production.
