Factors of Production
The lesson covers the concept of production and its types. It explains the factors of production, division of labor, and specialization. The advantages and disadvantages of division of labor and large scale production are also discussed.
- 11:19 “be a state, it could be a country, it could be a continent. So you can have people moving from, you can have doctors moving from Nigeria to Europe. You can have lawyers moving from Nigeria to Asia, sort of like that. So...”
- 28:41 “have a t-shirt in the same color, same shapes, same size, same everything and you have like a million pieces of it because the labor was divided and it was done very fast. And then the vision of labor also brings about e...”
- 26:22 “fast. We're not spending more resources than we should be using. So we can actually drop the cost of production when we have a good division of labor. Now we say division of labor makes for greater use of machinery. So w...”
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.
- 15:05 “is what rent, okay? Let's go to labor. Labor is a physical and mental effort of man in the production process. Labor is a physical and mental effort of man in the production process. Without labor, every other factor can...”
- 15:58 “Skilled, labor consists of people who have their requisite. The requirements are gotten, the required training and the aspect for the job they are performing. Okay? Example, doctors, engineers are content. People who are...”
- 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...”
Punctuality and Regularity in Work
This lesson explains the concepts of punctuality and regularity. It covers the attributes of both concepts and their importance in achieving high performance at work. The lesson also discusses the consequences of not being punctual and regular, as well as the meaning of devotion to duty.
- 11:58 “and development. One is increased in productivity. Once workers are devoted, there will be increment in productivity. Number two is full utilization of machine. There will be a boot to utilize or have knowledge on how to...”
- 12:43 “Therefore, when a worker put in more time or being devoted to the work given to him or her, he or she is likely to have greater or more employment opportunity to a higher level. Right? Then the fourth one is increase in...”
- 15:08 “Bless and at your service, my name, say your next class.”
Cost of Production
This lesson covers the concept of cost in economics, focusing on the cost of production. It explains different types of costs, such as fixed and variable costs, and discusses the factors of production that contribute to overall costs.
- 27:33 “how you calculate it any time, any day, then, the question is actually, as what's output, is AC at the minimum, go back to the table, as what's output is AC at the minimum, look at it very well, look at it, take a look,...”
- 26:47 “marginal, you have to use your total cost, 18 minus 14, now give us what, four, okay, you don't need to start burdening yourself with this, because when you say two minus one, three minus two, four minus three, you still...”
- 25:58 “okay, over changing quantity, anything marginal, the first line is always dash, you can see, here, for the first unit is dash, so you start from the second one, very easy, even without capital it or you can do this, just...”
Work, Energy and Power
This lesson covers the definitions of work, energy, and power. It explains potential and kinetic energy as forms of mechanical energy. The lesson also includes calculations related to work done and the concept of power as the rate of doing work.
- 01:44 “Now, for that force to act, it means that this person must have an energy which he has told that allows him this force to act on that rod and this bucket is lifted. What does it mean? It means that a particular form of e...”
- 00:50 “Then the third one is to be able to explain the concepts of potential kinetic energy which are the two forms of mechanical energy. Then the last objective is to be able to solve calculation problems that arise from probl...”
- 04:03 “This displacement is talking about the distance covered in any given direction. And like I said, there is an exception when the force acts perpendicularly to the direction of its force. An example is a man who is pushing...”