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 ...

The question of whether manufacturing companies, small businesses or other firms own factors of production depends greatly on which factors, as well as the type of economy in which a firm operates. In ...

THE principle of all economy consists in obtaining the relative maximum result from the least relative effort. This economic law should be sufficient in itself to combat and reject the present order ...

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 ...

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 ...

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 ...