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PRODUCTION
Production
Production is the combination of inputs
or factors of production in order to make
goods and services.
FACTORS OF
PRODUCTION
โ€ข
2. LABOR
3. CAPITAL
4. Entrepreneurship
โ€ข Willingness and the ability to innovate.
โ€ข Ability to analyze and interpret various
situations and signals from the market and then
make a decision based on incomplete
information.
โ€ข Ability to take responsibility for the
consequences of business decisions.
โ€ข Skills in organizing and managing the other
factors of production.
โ€ข Self-confidence and total commitment.
Roles and Traits of an Entrepreneur
โ€ข The importance of entrepreneurship drives the government to promote
and support entrepreneurial activities. The government provides
technical and financial support to those who aspire to become
entrepreneurs. Even the private sector is doing its part to support those
who wish to become entrepreneurs by giving short trainings and four-
year courses on entrepreneurship.
Importance of
Entrepreneurship in the
Economy
THANK
YOU!

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PRODUCTION.pptx

  • 2. Production Production is the combination of inputs or factors of production in order to make goods and services.
  • 5.
  • 7.
  • 9.
  • 11.
  • 12. โ€ข Willingness and the ability to innovate. โ€ข Ability to analyze and interpret various situations and signals from the market and then make a decision based on incomplete information. โ€ข Ability to take responsibility for the consequences of business decisions. โ€ข Skills in organizing and managing the other factors of production. โ€ข Self-confidence and total commitment. Roles and Traits of an Entrepreneur
  • 13. โ€ข The importance of entrepreneurship drives the government to promote and support entrepreneurial activities. The government provides technical and financial support to those who aspire to become entrepreneurs. Even the private sector is doing its part to support those who wish to become entrepreneurs by giving short trainings and four- year courses on entrepreneurship. Importance of Entrepreneurship in the Economy