Factors of production and sectors of ecomony
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The document discusses the key factors of production in economics - land, labor, capital and entrepreneurship. It also outlines the main sectors of the economy - the primary sector involves natural resource extraction, the secondary sector is manufacturing, and the tertiary sector comprises services. Within sectors, organizations can be organized or unorganized, and the economy also has public and private components.
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Sectors of indian economy
Hello everyone myself Rahul Kumar presenting you all my presentaion based on the topic different sectors of indian economy . In this you will find all the three sectors brief information with pictures and animation. I hope it will helps you all ..........................Thankyou....................Regards..........................Rahul Kumar
Introduction to Macroeconomics
This document defines basic economic terms and concepts. It discusses that goods can be tangible, like materials, or intangible, like services. It also defines different types of goods like consumer goods, capital goods, luxury goods, and free goods. The four factors of production are land, labor, capital, and entrepreneurship. Land includes natural resources. Labor represents human capital. Capital includes monetary and physical resources. Entrepreneurs combine the factors. The three main economic systems are the traditional economy, command economy, and market economy. The production possibilities frontier illustrates the key economic problem of scarcity and tradeoffs in production.
Chapter 1 Introduction to Economics.pdf
This document provides an introduction to economics, distinguishing between microeconomics and macroeconomics. It defines economics as the study of how society uses scarce resources to produce goods and services. Microeconomics examines individual choices of households, businesses, and markets, while macroeconomics looks at overall national and global economic performance. The document also discusses the fundamental economic questions of what, how, and for whom to produce goods and services. It introduces the concept of opportunity cost and uses the production possibilities curve to illustrate scarcity, choice, and trade-offs.
Microeconomics Introduction Chapter 1 Prelim
This document provides an introduction to microeconomics. It defines key economic concepts like economy, economics, scarcity and factors of production. It explains the differences between positive and normative economics and describes different types of economic systems including traditional, command, market, socialist and mixed economies. Specific examples are given for some systems. The four basic economic questions and three E's in economics - efficiency, effectiveness and equity - are also outlined.
Module 1 Introduction to economics.ppt
This document provides an overview of key concepts in managerial economics including:
1. Definitions of economics, microeconomics, macroeconomics, and managerial economics. Managerial economics applies economic theory to business problems.
2. The four factors of production - land, labor, capital, and entrepreneurship. These are combined by businesses to produce goods and services.
3. The circular flow of economic activity between households, firms, government, and foreign sectors. Income and expenditure flow continuously between these groups.
Economics activities
Economic activities are those efforts which are under taken by man to earn income , money, wealth for his life and to secure maximum satisfaction of wants with limited and scarce means.
Economics Presentationn.. group 6.pptx
The presentation covered four wheels of economic growth, types of unemployment, and Okun's law. It defined economics and discussed factors like GDP, economic growth, unemployment, types of unemployment like frictional and structural unemployment. It also explained Okun's law relationship between unemployment and GDP, where a 1% rise in unemployment can lead to a 2% drop in GDP. The presentation was made to Sir Tauqeer Hussain by Maryam Bilal, Ayesha Ali Khan and Muhammad Irsam.
Unit 6
This document provides an overview of economic activities and sectors. It defines economic activity as the process of satisfying human material needs through production, distribution, and consumption of goods and services. The economy is divided into three sectors: primary, secondary, and tertiary. The primary sector involves obtaining natural resources and includes agriculture, livestock farming, forestry, and fishing. Agriculture involves farming land through techniques like dry/irrigation farming and intensive/extensive farming. Livestock farming raises animals through extensive or intensive methods. Forestry exploits wood and other raw materials from forests.
Unit 5
The document discusses economic concepts and activities. It begins by defining economic activity as the process of satisfying human material needs through production, distribution, and consumption of goods and services. It then explains the three main sectors of the economy: primary involves obtaining natural resources, secondary involves manufacturing raw materials, and tertiary involves providing services. Within these sectors, various economic activities are described such as agriculture, industry, commerce, and different types of resource extraction and production. Key economic terms and systems like factors of production, supply and demand, and different models of governance are also outlined.
Unit 5
The document discusses the three main sectors of the economy: primary, secondary, and tertiary. The primary sector involves obtaining natural resources and raw materials through activities like agriculture, livestock, forestry, and fishing. The secondary sector transforms these raw materials through manufacturing, mining, construction, and energy production. The tertiary sector provides services and does not create materials, including commerce, tourism, transportation, communication, healthcare, and education.
Unit 5
This document discusses economic activities and the sectors of the economy. It defines economic activity as the process through which human needs are satisfied through production, distribution, and consumption of goods and services. The economy is divided into three sectors: the primary sector involves obtaining natural resources; the secondary sector involves manufacturing raw materials; and the tertiary sector involves providing services. Examples of each sector and their roles in the economy are provided.
Unit 5 . Economic activity
Economic activity involves the production, distribution, and consumption of goods and services. It utilizes natural, capital, and human resources. There are three main types of economic systems - traditional, capitalist/free market, and centrally planned. Most countries now utilize a mixed economy system with elements of both free markets and government intervention. The economy consists of three sectors - primary (agriculture, forestry, fishing), secondary (industry, manufacturing), and tertiary (services).
ch 1 intro economics.pptx
Economics is defined as the study of how society manages scarce resources. The document provides an introduction to key economic concepts including factors of production, different types of economic systems, and the circular flow model. It summarizes that economics involves decision making by households, firms, and government in markets for goods/services and factors of production. Different economic systems allocate resources differently between private ownership and central planning.
Economics 1.pptx
This document defines economics and discusses its nature and scope. It states that economics is the study of how individuals and groups allocate scarce resources. It can be considered both a science and an art. The document also outlines the major divisions of economics including production, distribution, exchange, consumption and public finance. Finally, it identifies the key economic resources as land, labor, capital and entrepreneurship.
Interprise,capital,lebor,
The four factors of production are land, labor, capital, and entrepreneurship. Land includes natural resources and physical space. Labor represents human capital and work. Capital exists in two forms - monetary resources used to acquire other resources, and physical assets like buildings and equipment. Entrepreneurship drives the transformation of resources into goods and services by taking on risks and managing resource allocation. Together these four factors describe the core economic resources and functions involved in business and production.
Economics
This document defines key economic concepts and describes different types of economic systems. It begins by defining goods and services, and categorizing goods according to their use, purpose, and availability. It then explains the characteristics of four main economic systems: capitalism is based on private ownership and free markets; communism involves state ownership and a command economy; socialism combines state and private ownership; and traditional economies rely on customs rather than money. The document concludes by describing a mixed economy that draws aspects from market, command, and traditional systems.
Sectors of the indian economy
This document discusses the three sectors of the Indian economy: primary, secondary, and tertiary. It notes that historically the primary sector was most important but over time the secondary and tertiary sectors have become more prominent. While their share of GDP has increased, the tertiary and secondary sectors have not absorbed as many workers as the primary sector. As a result, there is underemployment in agriculture. The document suggests ways to generate more employment, such as investing in irrigation, transportation, credit, and industries in rural areas.
Economic development
The government plays several key roles in economic development including addressing market failures, externalities, and providing public goods. It also works to promote integrity in markets and overall economic growth. Specifically, the government aims to correct inefficient resource allocation, redistribute income, regulate activities, and promote important public services that benefit all of society. It also establishes rules to manage external costs and benefits from production and consumption.
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Student-teacher relantionship in schools
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Factors of production and sectors of ecomony
- 1. BY RIYA
- 2. FACTORS OF PRODUCTION • In economies, factors of production are inputs to the production process and the finished products are output. • There are 3 basic factors of production: Land, Labor and Capital. Some modern economists also include entrepreneur as a factor of production.
- 3. LAND In economies, the land comprise all naturally occuring resources whose supply is inherently fixed. Land was sometimes defined in classical and neoclassical economics as the “original and indestructible powers of soil”. Income derived from ownership of control of natural resources is referred to as rent.
- 4. LABOR In economics labor is the measure of the work done by the humans. It is conventionally contrasted with such other factors of productions such as land and capital. There are theories which have developed a concept called human capital.
- 5. CAPITAL In economics, capital goods or capital assets are already produced durable goods. Capital is an input in the production functions. Homes and personal autos are not usually defined as capital. Capital is wealth but wealth is not capital.
- 6. Entrepreneur is a person who brings the other 3 factors of production together to form a new product or a new business. He is a person who takes risk for the business.
- 7. SECTORS OF ECONOMY • The economy is classified into several sectors; some which are related to the production process and some which tell how the industries or any other working places are? • These sectors are: • Primary sector, Secondary sector, Tertiary sector • Organized sector, Unorganized sector, • Private sector, and public sector
- 8. PRIMARY SECTOR In primary sector, the activities are directly undertaken by using natural resources. There are many ways for using natural resources for example: Agriculture Mining Fishing Dairy Forestry and etc.
- 9. SECONDARY SECTOR In the secondary sector, the activities in which natural resources are changed into other forms through the ways of manufacturing. Secondary sector is the step after the primary sector. For example: we use cocoa bean for making chocolates, we use coal for making fuel, petrol and etc. It is also called the industrial sector as it is associated with different types of industries.
- 10. TERTIARY SECTOR The tertiary sector is also called the service sector because there are services in this sector for example: Storage-: the storage means the place where we store the goods when necessary and there are services provided for it. Transport:- the goods are transported either by trucks or trains, to other places and are sold in wholesale or retail shops.
- 11. In the unorganized sector, there are small units which are out of control of the government. The wages are also not regular and the rules and regulations are not followed. And the employment is not secure for them
- 12. A sector which acts according to government rules with many employees and have a defined pattern of wages is called organized sector.
- 13. PUBLIC SECTOR The public sector refers to the part of the economy where the government provides services to the public. In this sector, the main aim is to provide the public welfare. The services include: the public road, public transport and etc.
- 14. PRIVATE SECTOR vate sector is t of the y which mes referred as en sector in he industries are run by als or groups, ot controlled by in aim is to earn r themselves.
- 15. http://en.m.wikipedia.org/wiki/Factors_of_production http://en.m.wikipedia.org/wiki/Land_(economics) http://en.m.wikipedia.org/wiki/Labor_economics http://en.m.wikipedia.org/wiki/Capital_(economics) http://en.m.wikipedia.org/wiki/Unorganised_sector_(Indi a) http://wiki.answers.com/Q/Defination_of_organised_sect or http://en.m.wikipidea.org/wiki/Entrepreneurship http://en.m.wikipedia.org/wiki/Public_sector http://en.m.wikipedia.org/wiki/Private_sector