Learn the Factors of Production

Last updated 16 June 2020
Learn the Factors of Production

Earth

The place a person obtains through a benefit, for example, arable land, or building, oceans, rivers, oil, and land is a source for producing goods and services.

Work

Work is shared by workers (whether muscular or mental) within production processes so that workers can obtain benefit from the production process, and through this benefit, they get a wage and salary to meet their personal needs, and workers are called forces or human resources within the organization, and this unit works by training and developing their experiences and improve their conditions at work.

Also read: Learn Social Market Economy Patterns

Types of Workers in Production Processes

Work which Depends on Mental Work

Depends on scientific and practical experience for example (lawyer, doctor, teacher, and others)

Workers who rely on Muscle Work

The production here depends on the muscles and the manual effort, for example (farmer, paint, carpenter, mourning(

Work Head: Production

It assists workers in productive operations, for example, money, machinery, and equipment, cars, technology, furniture, buildings, warehouses, etc., and the capital can be classified into two main parts which are capital goods and investment goods, and the interest behind capital is interest.

Also read: What is the Definition and History of Production

Organization and Management

The mastermind of managing production processes is considered the upper hand that controls the organization and management of production processes and processing them until the final product is obtained from goods and services, in addition to controlling the production elements and monitoring them in drawing strategies, policies, future plans and the like, and it is responsible and risks and many other Administrative and organizational matters.

اقراء المقالة باللغة اخرى : العربية

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