The quality and quantity of factors of production can be influenced by various economic and social factors. The quality of labor and capital can increase through better education, training, experience, and healthcare. The quantity of labor depends on population size, age structure, retirement age, and attitudes towards women working. It also depends on the number of hours worked, which is influenced by the length of the average work day and time lost to holidays and sickness. The quantity of capital depends on investment levels and tends to increase over time through spending on capital goods minus depreciation. While the amount of land does not change much, its quality can be increased through fertilizers and other methods.

1. Quality and Quantity
of Factors of
Production
Mudassir Raza

2. The Quality of Enterprise
The quality of enterprise can be improved if entrepreneurs receive better
education, better training, better healthcare and gain more experience.

3. The Quantity of Enterprise
The Quantity of enterprise will increase if there are more entrepreneurs . A good
education system including university degree courses in economics and business
studies, may help to develop entrepreneurs in an economy.

4. The Quantity of labour
The quantity of labour is influenced by two key factors, one is the number of
workers available and second is the number of hour for which they work.
The size of the population
The age structure of the population
The retirement age.
The school leaving age.
Attitude to working women.
The number of available workers determined by:

5. The Quantity of labour
Labour force: People in work and those actively seeking work.
Productivity: The output per factor of production in an hour.
Labour productivity: Output per worker hour.
Output: Goods and services produced by the factors of production.

6. The Quantity of labour
The length of the average working day
Whether they work full or part time.
The duration of overtime
The length of holidays taken by workers
The amount of time lost through sickness and illness.
The number of hours which people work is influenced by (among the factors).

7. The Quality of labour
The quality of labour can be improved as a result of better education, better
training, more experience and better healthcare.

8. The Quality of Capital
Advances in technology enable capital goods to produce a higher output and a
better quality output.

9. The Quantity of Capital
The quantity of capital is influenced by investment and tend to increase with time.
Investment: Spending on capital goods.
Gross Investment: Total Spending on capital goods.
Depreciation: The value of capital goods that have worn out or become obsolete.
Net Investment: Gross investment minus depreciation.
Negative net investment: A reduction in the number of capital goods caused by some
obsolete and worn out capital goods not being replaced.

10. The Quantity of Land
The amount of physical land in existence does not change much with time.

11. The Quality of Land
There are a number of reasons why the the quality of natural resources may
increase. Fertilizers can be applied to fields to increase the fertlity of the land.

12. Thank You