2. Body 3.1. Land (Sibusiso) 3.2. Labour (Chelsea) 3.3. Capital (Tsakani) 3.4. Entrepreneurs (Fortunate) 3. Conclusion (Gugulethu) 4. Glossary of terms 5. ARTICLE 1 6. ARTICLE 2 7. Bibliography INTRODUCTION Definition of ’Factors of Production ’ An economic term to describe the inputs that are used in the production of goods or services in the attempt to make an economic profit. The factors of production include land‚ Labour‚ capital and
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equipment‚ buildings‚ and land. Intangible assets may be represented by a piece of paper or document. The real value of such assets is the rights and privileges extended to their owners. Examples of intangible assets can be a patent or a trademark. Property‚ plant‚ and equipment include furniture‚ machinery‚ computers‚ and fixtures that can be removed and used somewhere else. Real property is land‚ land improvements‚ building‚ and other structures attached to the land. Cost basis of a long-lived
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Natives speak Spanish and become part of their society as well as to work. After the Natives become part of that society‚ a Presidio was set up. The purpose of the Presidio was to guard and protect the Mission and the people in it. Military forces opened land right after the Presidio was set up in order for the Natives to do labor. Finally after everything is set up‚ the Spaniards can make their own Pueblo. The Pueblo meant that native laborers were always supervised and the Presidio kept outsider away
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1. Why is the assumption of land as a homogenous factor of production no longer considered tenable? In classical economics‚ land along with labor and capital are considered as one of the factors of production. Land is often regarded as the original factor of production because it is found in nature and therefore not produces and cannot be derived from anything else. As a natural good‚ land was considered the source of wealth thus agriculture was the only sector that could increase it. Thus
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their livelihood. Fernandes (1984) argues or that the destruction of forests over the past few decades has deprived tribes of their livelihood‚ particularly source of food. It has also resulted in their impoverishment‚ indebtedness and in many cases land alienation and even bondage. The concept of livelihoods and livelihood analysis emerged in the mid-nineties- closely associated with poverty reduction strategies. Livelihood of the poor can never be understand in any track logic be it economic‚ social
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CONTENTS Factors of production Description Sectors Key Factor Conclusion FACTORS OF PRODUCTION • Land • Labour • Capital • Entrepreneurship LAND Includes any natural resources used to produce goods and service i.e. not just land but anything that comes from land Land refers to all natural resources both renewable and non renewable. Income that resource owners earn in return for land resources is called rent LABOUR Labour is the effort that people contribute and includes all physical
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category. Ans: Biotic resources - 1. human beings‚ 2. natural vegetation. Abiotic resources - 1. water‚ 2. coal‚ 3. petroleum. Renewable resources - 1. forests‚ 2. solar energy. Non-renewable resources - 1. coal‚ 2. CNG. Individual resources - 1. land‚ 2. house. Community resources - 1. grazing grounds‚ 2. public parks. National resources - 1. minerals‚ 2. river water. International resources - 1. resources from ocean water and sea-bed beyond 200 km. of EEZ‚ 2. sea-routes Potential resources -
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about 30 years. The report also said tropical wildlife populations are falling by as much as 60 percent over the past three decades. Authors of the study analyzed 8‚000 populations of 2‚500 species‚ as well as global changes in water consumption and land use. According to the latest information‚ it could be that half of the total plant production and most of the animals worldwide contribute to the wellbeing of just one species - mankind. The exploitation of nature’s resources occurs when we consume
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valuable consumer products. The classic economic resources include land‚ labor and capital. Entrepreneurship is also considered an economic resource because individuals are responsible for creating businesses and moving economic resources in the business environment. These economic resources are also called the factors of production. The factors of production describe the function that each resource performs in the business. Land Land is the economic resource encompassing natural resources found within
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In the world of ‘The Arrival’‚ a young father begins to make his descent through new lands in search of a perfect city for his wife and young daughter. As the man begins his journey across the world‚ he travels by means of land and water transportation via a train and large boat. As the days go by‚ windy and warm‚ the man at long last reaches land‚ new land. While going through the transit of the “airport”‚ the man finds it difficult to go through simple tasks due to the new language he begins to
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