Production
Muhtasari
Before a single product reaches a shop shelf, an economy has to combine raw ingredients: a plot of land, the effort of workers, machinery and money, and someone willing to take the risk of putting it all together. Economists group these ingredients into four factors of production, and every business, however small or large, uses some combination of all four.
In this lesson you will define land, labour, capital and enterprise, compare labour-intensive with capital-intensive production, and explore how output and jobs are split between the primary, secondary and tertiary sectors. You will also see how that balance shifts as economies develop, and why manufacturing has declined in many rich countries even as it has grown in others.
Malengo
- The factors of production: land, labour, capital, enterprise
- Sectors of the economy: primary, secondary, tertiary
- Changes in the importance of these sectors in terms of employment and output over time in developing and developed economies
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Tathmini ya Somo
Hongera kwa kukamilisha somo la Production. Sasa kwa kuwa umechunguza dhana na mawazo muhimu, ni wakati wa kuweka ujuzi wako kwa mtihani. Sehemu hii inatoa mazoezi mbalimbali maswali yaliyoundwa ili kuimarisha uelewaji wako na kukusaidia kupima ufahamu wako wa nyenzo.
Utakutana na mchanganyiko wa aina mbalimbali za maswali, ikiwemo maswali ya kuchagua jibu sahihi, maswali ya majibu mafupi, na maswali ya insha. Kila swali limebuniwa kwa umakini ili kupima vipengele tofauti vya maarifa yako na ujuzi wa kufikiri kwa makini.
Tumia sehemu hii ya tathmini kama fursa ya kuimarisha uelewa wako wa mada na kubaini maeneo yoyote ambapo unaweza kuhitaji kusoma zaidi. Usikatishwe tamaa na changamoto zozote utakazokutana nazo; badala yake, zitazame kama fursa za kukua na kuboresha.
- Which of the following is an example of the factor of production 'enterprise'? A) A farmer's field B) A delivery van C) An entrepreneur starting a new bakery and risking her savings D) A factory worker's wages Answer: C
- Working capital refers to: A) Machinery and buildings used repeatedly in production B) Stocks of raw materials and components held ready for production C) Money paid to shareholders D) The site a business occupies Answer: B
- A firm of accountants belongs to which sector of the economy? A) Primary B) Secondary C) Tertiary D) Quaternary Answer: C
- Which of the following best explains de-industrialisation in developed economies? A) A rise in the primary sector's share of output B) A decline in the secondary sector's share of output or employment relative to the tertiary sector C) A fall in total national income D) A ban on manufacturing imports Answer: B
- Capital-intensive production is most likely to be chosen when: A) Wages are very low relative to the cost of machinery B) Wages are high relative to the cost of machinery C) The business is very small D) The product must be highly customised by hand Answer: B
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Vitabu Vinavyopendekezwa
Jifunze zaidi kutoka vyanzo huria
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Sehemu ya kitabu
Production in the Short Run
Understand the concept of a production function
"Principles of Economics 2e: Production in the Short Run" by OpenStax, OpenStax, Rice University, licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Source: https://openstax.org/books/principles-economics-2e/pages/7-2-production-in-the-short-run. Access for free at https://openstax.org/books/principles-economics-2e/pages/1-introduction
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