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Organization of production

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Organization of production

Posted by Abhi Nav 2 years, 1 month ago

CBSE > Class 09 > Social Science

1 answers

Garima Saini 2 years, 1 month ago

Aim of production is to produce goods and services of one's or society's need. Majorly their are four main requirements for the organisation of production: 1) land: land and natural resources such as water, minerals, soli fertility. 2) labour: people who will do the work. 3) physical capital: it is divided into two ¹ ¹ fixed capital( such as tools, buildings, machines, etc). ²working capital ( raw material and money in hand) . 4) the most important is *knowledge and enterprise to be able to put together all this, for a good production. Every production is organised combining land, labour, physical and human capital which is known as factors of production. Thank you :)

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