Question

Describe the factors of production used to produce Apple iphone?

Answer 1

Resources used to give the final touch of iphone for marketing are the main factors of production.The primary factors that influence the production of iphone are land, labour, capital and entrepreneurship.

Land:- Apple iphone have many parts which require many equipments and resources. All natural resources used in the production of Apple iphone comes under the category of land.The raw materials used in the production of iphones are outsourced in order to operate at a low cost effective level. Impacts of globalisation has helped in reducing the production cost by importing raw materials from foreign land like China. Sapphire Glass is used on iphone as displays which is produced by melting many natural resources. Plastic, glass, aluminium, strong polycarbonate etc are the natural resources which are used in the manufacture of iphones and all these raw materials are outsourced from from other countries like, Germany, Japan, China etc.

Labour:- The power of manual labour in the production of Iphones can not be ignored as different jobs like designing, marketing, sales, finance, software engineering, iphone engineering, hardware engineering etc are required to be performed by people having their expertise in those fields. Though all the factors of production are imperative for the manufacturing of iphones, it is the top quality efforts and hardworks put forwarded by the labours which bring lives to the iphones and differentiate it from other general phones.

Capital:- The total productivity of a product enhances when more and more capitals are invested on it. So in the production of Apple iphones, All the improved technologies,tools and machineries, wages of workers, transportation and marketing costs etc are considered to be the capital used as the factor of production.

Entrepreneurship:- Managerial skills, leadership and brilliant ideas matter a lot in the production of iphones as it has made a international name in the world with its innovation and technologies.