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Suppose that you want to set up a flower shop in to school exhibition for one week list all the factors of production by estimating the amount of money required for each factor of production |
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Answer» Supposing that you want to set up a flower shop in the school EXHIBITION for ONE week, the list of the factors of production and their estimation are as under: (i) Flowers; It is the main ITEM of SALE hence it takes 65-70% of the budget. (ii) Stalls/Rent; This takes 20% of the budget. (iii) Wages; Workers at the exhibition require wages which takes 15-20% of the budget. |
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