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Four factors of production ? Mention their rewards?
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Four factors of production ? Mention their rewards?
REWARDS OF FACTOR OF PRODUCTION


# LAND = RENT
#LABOUR = WAGES
#CAPITAL = INTEREST
#ORGANISATION = PROFIT
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Four factors of production ? Mention their rewards?
Land Labour capital interprinurship
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Direction: Read the following text and answer the questions given below:Shruti, a student of management at MDI, Gurgaon, likes to relate what she has learnt in her classes during study to real life situations around her. She observed many situations while watching educational programmes on television that remind her of concepts of Scientific Management. In one such programme, factories manufacturing parts for products like automobiles, computers and mobile phones were being telecast. These factories had defined benchmarks during production and were continuously aiming at eliminating unnecessary diversity of products. Thus, they aimed at eliminating superfluous varieties, sizes and dimensions and devising new varieties instead of the existing ones. While watching the programme, Shruti realized that these companies could adopt one best way of doing the job in order to be more productive. She also felt that the employees of these companies were working for long hours continuously and needed to adopt certain strategies in order to improve their efficiency. The programme also showed a few interviews where some workers were found to be highly efficient as compared with a few others.Which Scientific Management technique would Shruti suggest for these factories if they have to help the workers regain their stamina and enable them to work again with the same capacity?

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Four factors of production ? Mention their rewards?
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Four factors of production ? Mention their rewards? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Four factors of production ? Mention their rewards? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Four factors of production ? Mention their rewards?.
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