![]() The quality of enterprise will depend on how well it is able to satisfy and expand demand in the economy in cost-effective and innovative ways.The supply of enterprise is dependent on entrepreneurial skills (risk-taking, innovation, effective communication etc.), education, corporate taxes (if taxes on profits are too high, nobody will want to start a business), regulations in doing business and so on.The reward to enterprise is the profit generated from the business.Entrepreneurs organize all the other factors of production and take the risks and decisions necessary to make a firm run successfully. In short, they are the people who start a business. A person who has enterprise is called an entrepreneur. Enterprise: the ability to take risks and run a business venture or a firm is called enterprise.On the other hand, a pen is geographically and occupationally mobile. For example, an office building is geographically immobile but occupationally mobile. Capital mobility can depend upon the nature and use of the capital.For example, the capital is said to be of much more quality in a car manufacturing plant that uses mechanisation and technology to produce cars rather than one in which manual labour does the work. The quality of capital depends on how many good quality products can be produced using the given capital.The supply of capital depends upon the demand for goods and services, how well businesses are doing, and savings in the economy (since capital for investment is financed by loans from banks which are sourced from savings).The reward for capital is the interest it receives.Capital is usually denoted in monetary terms as the total value of all the capital goods needed in production. All man-made goods (which help to produce other goods – capital goods) from a simple spade to a complex car assembly plant are included in this. Capital: all the man-made resources available in an economy.It can achieve geographical mobility (ability to move to a place for a job) depending on transport facilities and costs, housing facilities and costs, family and personal priorities, regional or national laws and regulations on travel and work etc. Labour can achieve high occupational mobility (ability to change jobs) if they have the right skills and qualifications. Labour mobility can depend up on various factors.The quality of labour will depend upon the skills, education and qualification of labour.of years of schooling, retirement age, age structure of the population, attitude towards women working etc.) and the number of hours they work (which is influenced by number of hours to work in a single day/week, number of holidays, length of sick leaves, maternity/paternity leaves, whether the job is part-time or full-time etc.). The supply of labour depends upon the number of workers available (which is in turn influenced by population size, no.That is, the mental and physical efforts and skills of workers/labourers. Labour: all the human resources available in an economy. ![]()
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