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Rewards of labour as a factor of production are;SalariesWagesLegal feesCommission
Factors of labour as a factor of production include;Basic factor of productionCannot be storedCannot be separated from labourer.It is humanIt is mobileLabourers sell their labour and not themselves
Disadvantages of division of labour include;social problemscreates monotony and boredomcreate unemploymentdifficult to know who to identify with the final productconvents man into a machine like creaturemakes man dependent on only one trade
Functions of entrepreneur in production are;Identifies viable business opportunityCombined the other factors of productionprovides capital required to carry out productionEmploy and reward other factors of productionHe bears all the risks and lossesHe makes all the decision on the businessHe controls and manages the business
Ways in which an entreprenuer contributes to the production of goods include;Identified viable business opportunitiesProvides guidelines on how production should be organizedCo- ordinates other factors of production should be organizedProvides capital necessary to cater for productionHe assembles / marshals other factors of productionHe is the major decision makerHe rewards all the factors of productionHe bears all risks / incurs all losses and enjoys all profits