Types of Production
This lesson defines production and explains its types, including primary, secondary, and tertiary production. It also discusses the extraction of raw materials and the transformation into finished goods.
- 10:57 “to get those goods to be consumers are either by air, by water or by road, okay? And before those goods will be able to get to the consumer, it may be stored in our warehouse, okay? Until those goods are being needed. An...”
- 11:44 “business are being reduced. We also have the transport services fed of production on environment or society. Let us see, you can equally say the importance of production in our society. One is this, it provides employmen...”
- 17:35 “machinery, equipment. All these things are being included as capital. Then we have reward for capital as interest. The reward for capital is world interest. Right, we have the entrepreneur. The entrepreneur is the owner...”
Revenue Types
This lesson defines revenue and explains its three main types: total revenue, average revenue, and marginal revenue. It covers how to calculate each type and their relationships to production and sales.
- 01:01 “However, when you produce an item and then you sell that item, you will realize money. Is that so? Now, the total amount you have realized when you sell a commodity you have produced, that total amount realized is what w...”
- 05:10 “So, let's get the words, the solution to these words, so this interesting question won't have to the other. Look at the board, here you have what, P is on the wall, it's first on the CR, remember the formula I give to us...”
- 00:13 “Good students, I am Mr. Kenny and I'll be taking you economics. We shall be looking at a very interesting topic called revenue concepts, revenue concepts. What exactly do we mean by the word revenue, what is revenue? Rev...”