Factors of Production
ZIMSEC O Level Commerce Notes: Factors of Production
- The four factors of production act as inputs during the production process.
- They are also generally known as resources.
To access more topics go to the Commerce Notes page.
January 2023
An introduction to Economic Activity
ZIMSEC O Level Business Studies: An introduction to Economic Activity and Ordinary Level Business Studies
Business-a commercial activity conducted to satisfy human needs and wants usually done for profit. Business studies is the study of such activities. Examples of Businesses include buying and selling, the offering of services and mining. The word business does not refer to a building […]
The Nature And Purpose Of Economic Activity
Cambridge AS A Level Business Studies/ ZIMSEC Advanced Level Business Studies/ Business Enterprise Skills Notes: Enterprising: The Nature And Purpose Of Economic Activity
- As we live our lives we interact with businesses (enterprises) on a daily basis
- The shop from which we buy bread and other groceries
- The vendor who sells us vegetables
- As is already […]
A Level: Factors Of Production: Introduction
Cambridge AS A Level Business Studies/ ZIMSEC Advanced Level Business Studies/ Business Enterprise Skills Notes: Factors Of Production: Introduction
- As already mentioned several times, businesses are a result of entrepreneurs using resources to satisfy needs and wants
- Resources are also known as factors of production
- There are four factors of production namely:
- Land
- Labour
- Entrepreneurship
- Capital
To […]
AS A Level Business: Intellectual Capital
Cambridge AS A Level Business Studies/ ZIMSEC Advanced Level Business Studies/ Business Enterprise Skills Notes: Intellectual Property
- Capital is one of the four factors of production
- Intellectual capital is part of capital
- To reiterate, creating a business (enterprise) involves combining the four factors of production
- These factors are also known as resources
- These resources include capital, […]