Questions
1. What are the factors of production ?
Factors of production are as follows: capital, labour, and natural resources.
Human capital is knowledge that contributes "know-how" to production. It is increased by research and disseminated through education. Investment n human capital results in new, technically improved, products and production processes which improve economic efficiency. Like physical capital, human capital is important enough to be an indicator of economic development of a nation.
2. Why are the factors interdependent?
Definition of the three distinct, interdependent factors of production is another important analytical tool that helps economists make sense of the processes of production and distribution in a complex society. Each is clearly different from the other.. The mutually exclusive nature of these categories is what makes them so useful. In other contexts, these terms are sometimes used differently, or oddly combined, such as "human capital". It is important to remember that different schemes of definitions and terms can be used for different purposes. Land, for example, is often referred to as "capital", in the sense that one can buy land and use it as a "capital investment". The use of a term like "real estate" -- which is a combination of land and capital as we have defined them here -- can further cloud the issue. This shows us that when economic terms are used, it is very helpful to clearly understand how they are being defined.
3. What is wealth?
Wealth is the abundance of valuable resources or material possessions, or the control of such assets. Capital increases labor's ability to produce wealth (and services too). When the stuff of nature is worked up by labor into tangible goods, which satisfy human desires and have exchange value, we call those goods Wealth.
4. Why is land considered a passive factor of production?
Land is the passive factor in production. As such, land simply exists. To make the gifts of nature satisfy our needs and desires, human beings must do something with the natural resources; they must exert themselves, and this human exertion in production is called labor. Everything that people do, to convert natural opportunities into human satisfactions -- whether it involves the exertion of brawn, or brains, or both -- is labor, to the economist.
5. How do capital and labor differ from land?
Likewise, when there's more demand for land, the land factories gear up and crank out more land .That is why land must be defined as a distinct factor of production. Since land is needed for all production, any time overall production is increasing, land will be in greater demand. When capital goods are in greater demand, labor will eagerly produce more of them. But, the supply of land cannot be increased, because land is not produced by human labor.
6. Why is it important to understand how terms are used in different contexts?
In other contexts, these terms are sometimes used differently, or oddly combined, such as "human capital". It is important to remember that different schemes of definitions and terms can be used for different purposes. Land, for example, is often referred to as "capital", in the sense that one can buy land and use it as a "capital investment". The use of a term like "real estate" -- which is a combination of land and capital as we have defined them here -- can further cloud the issue. This shows us that when economic terms are used, it is very helpful to clearly understand how they are being defined!
7. What is the alternative views on the factors of production?
There are some others point of view on factors of production: neoclassical and other "free market" economists—the primary factor of production is the time of the entrepreneur, which, when combined with other factors, determines the amount of output of a particular good or service. Marxist and socialist treat labour very differently from the other factors, seeing it as the conscious and active input which converts physical raw materials and other inputs into use-values wanted by consumers and businesses.
8. What is the difference between physical, financial, and human capital?
Physical capital is land, buildings, equipment, raw materials; bonds, stocks, available bank balances are included in the financial capital. Human capital is knowledge that contributes "know-how" to production. It is increased by research and disseminated through education. Investment n human capital results in new, technically improved, products and production processes which improve economic efficiency.
8. What’s the difference between labour and other factors of production?
Unlike other factors of production, for example capital, labour has its peculiarity, as once workers are employed, their efficiency can vary greatly with organization of work and their motivation.
10. What economic problems posses such factor as “labour”?
Demand for labour is influenced by the demand for goods produced by workers, the proportion of wages in total production costs, etc. The supply of labour depends upon the size of population, geographic mobility, skills, education level (human capital), etc. Workers supply labour either individually or through trade unions. If demand for and supply of labour are not in equilibrium, there is unemployment. The rate of unemployment is a percentage of the total labour force without a job. It is desirable for an economy to have the lowest possible unemployment rate and to achieve higher employment as neither full use of resources nor maximum level of output can be achieved in an economy having unemployment.
Грамматические структуры
Infinitive
To make the gifts of nature satisfy our needs and desires, human beings must do something with the natural resources; they must exert themselves, and this human exertion in production is called labor.
Чтобы заставить дары природы удовлетворить наши потребности и желания, люди должны сделать кое-что с природными ресурсами; они должны проявить себя, и это человеческое проявление в производстве называют рабочей силой.
Everything that people do, to convert natural opportunities into human satisfactions -- whether it involves the exertion of brawn, or brains, or both -- is labor, to the economist.
Все, что люди делают, чтобы преобразовывать естественные возможности в человеческие удовлетворения - вовлекает ли это применение мускул, или умственных способностей, или обоих - является рабочей силой, экономисту.
When some of the wealth is used to produce more wealth, economists refer to it as Capital. A hammer, a screwdriver, and a saw are used by a carpenter to make a table.
Когда часть богатства используется, чтобы произвести больше богатства, экономисты именуют это как Капитал. Молоток, отвертка, и пила используются плотником, чтобы сделать стол.
Capital increases labor's ability to produce wealth (and services too).
Капитал увеличивает способность рабочей силы произвести богатство (и услуги также).
It is common, in economics, to understand labour as an effort needed to satisfy human needs
Это обычно, в экономике, понимать труд, поскольку усилие должно было удовлетворить человеческие потребности.
Their analysis does not substantially alter the idea of factors of production, although it puts special emphasis on means of production, defined as the factors minus labor, which it sought to differentiate from human factors.
Их анализ существенно не изменяет идею относительно факторов производства, хотя это делает специальный акцент в средства производства, определенного как факторы минус рабочая сила, которую это стремилось дифференцировать от человеческих факторов.
The Marxian school goes further, seeing labor (in general, including entrepreneurship) as the primary factor of production, since it is required to produce capital goods and to utilize the gifts of nature.
Марксистская школа пошла далее, видя рабочую силу (вообще, включая предпринимательство) как первичный фактор производства, так как это обязано производить основные фонды и использовать дары природы.
Participle I
'Factors of production' may also refer specifically to the primary factors, which are stocks including land, labor (the ability to work), and capital goods applied to production.
'Факторы производства' могут также обращаться в частности к первичным факторам, которые являются акциями, включая землю, рабочую силу (способность работать), и основные фонды обращались к производству.
The number and definition of factors varies, depending on theoretical purpose, empirical emphasis, or school of economics.
Число и определение факторов изменяются, в зависимости от теоретической цели, эмпирического акцента, или школы экономики.
But they tend to treat labour very differently from the other factors, seeing it as the conscious and active input which converts physical raw materials and other inputs into use-values wanted by consumers and businesses.
Но они имеют тенденцию рассматривать труд совсем по-другому от других факторов, видя это как сознательный и активный ход, который преобразовывает физическое сырье и другие материалы в ценности использования, разыскиваемые потребителями и фирмами.
…by making labor more productive.
…делая более производительную рабочую силу.
Participle II
In economics, factors of production (or productive inputs or resources) are any commodities or services used to produce goods and services.
В экономике, факторы производства (или производительные входы или ресурсы) - любые товары, или услуги имели обыкновение производить товары и услуги.
'Factors of production' may also refer specifically to the primary factors, which are stocks including land, labor (the ability to work), and capital goods applied to production.
'Факторы производства' могут также обратиться в частности к первичным факторам, которые являются акциями, включая землю, рабочую силу (способность работать), и основные фонды, обращеные к производству.
Factors of production arc resources used by firms as inputs for a good or service to be produced.
Факторы производства образовывают дугу ресурсы, используемые фирмами как входы для пользы или обслуживания, которое будет произведено.
In economic theory, the term "capital" refers to goods and money used to produce more goods and money.
В экономической теории, срок "капитал" обращается к товарам, и деньги имели обыкновение производить больше товаров и денег.
To group capital into fixed capital and circulating capital is common practice.
К столице группы в неподвижную столицу и оборотный капитал - общая практика.
…funds required o pay wages and other claims against the enterprise. Non-renewable goods TC used up in one production cycle and their value is fully transferred to the final product.
When combined with other factors, determines the amount of output of a particular good or service.
Когда вместе с другими факторами, определяет количество продукции отдельной пользы или обслуживания.
Gerund
The stock of knowledge in the labor force from formal education and job training as part of labor, and sometimes entrepreneurship.
Запас знания в рабочей силе от систематического образования и работы, обучающей как часть рабочей силы, и иногда предпринимательство.
Therefore, there is always a demand for capital goods, and some labor will be devoted to supplying those goods
Поэтому, есть всегда требование на основные фонды, и некоторая рабочая сила будет посвящена поставке тех товаров
Labour has a variety of functions: production of raw materials, manufacturing of final products, transferring things from one place to another, management of production
Лейбористская партия имеет множество функций: производство сырья, производство конечных продуктов, передавая вещи от одного места до другого, управление производством.
In time, this will create a shortage of consumer goods, and workers will be drawn back toward making them.
Вовремя, это создаст нехватку товаров народного потребления, и рабочие будут отодвинуты к созданию их.
When labor satisfy desires directly, without providing a material good, we call that "Services".
Когда рабочая сила удовлетворяет желания непосредственно, без обеспечения материальная польза, мы называем это "Услугами".
Passive
Sometimes the overall state of technology is described as a factor of production.
Иногда полное оснащение технологиями считается фактором производства.
Non-renewable goods used up in one production cycle and their value is fully transferred to the final product.
Невозобновляемые товары , израсходованные в одном цикле производства и их ценности полностью переданы конечному продукту.
Human capital is knowledge that contributes "know-how" to production. It is increased by research and disseminated through education