Production Volume Factors
1. National resources: the volume of production depends upon great extent on natural resources like land; climate, minerals etc. help a country to make rapid strides in the economic field.
2. Human resources: exploitation of natural resources will possible only with the help of manpower. Therefore adequate skilled labor force is essential for increasing production.
3. Capital: capital is an essential factor of production, the availability of which determines the volume of production to a great extent.
4. Credit and banking: scale of production cannot be increased without sufficient credit facilities. Extensive network of banking facilities help in expanding the scale of production.
5. Technique of production: modern technique of production help in improving productivity by leaps and bounds, as in evident of phenomenal economic growth made by U.S.A, Japan etc.
6. Transport and communication: transport and communication are also important in determining the volume of production. Besides providing these utility, they help in the extension of market, mobility of factors of production and bring buyers and sellers into close contact with each other. All these have salutary effect on production.
7. Political condition: provided the government show interest in production and provide basic infra-structure and other facilities, production can be increased several fold.
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