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.
- 08:08 “then we generate value, which can now be exchanged. And that is how when we now exchange that value, and we get value for it or money for it, then that is how we make use of the land resources. Just being there is not en...”
- 09:47 “it time to rest and so it can replenish and then come back and they use it again. So land is subject to diminishing returns. The more we use it, the less productive it gets. The last one, land has no cost of production....”
- 06:30 “everybody has a price at the tick at the end. And so the reward for each of the, each of these factors of production have their own rewards for their contribution to the production process. And as we treat each of them,...”
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.
- 04:08 “will not be paid for the usage of such land. Of course, when I like it or not, rents must be paid. On label, you can also employ a label for working for you free of charge, you need to pay them either with this or what,...”
- 03:16 “production. And what are the factors of production? We have words, you have land, you have labor, you have capital, and of course you have the word ends up in your, now the cost you include on land, the cost you include...”
- 16:04 “you calculate your worth, your total cost, please take note, your total cost here is going to be worth, it's going to be fixed cost, plus worth, plus variable cost, okay, remember the first one I get to you is worth, is...”
Soil Erosion and Flooding
The lesson covers soil erosion, its causes, and the impact of human activities on soil health. It also discusses methods to control and prevent erosion, as well as the causes and prevention of flooding. Different types of drainage patterns in the community are also described.
- 03:53 “When human activities are too much on the particular land, it removes the cover and thereby exposes the land to soil erosion. Number three, over grazing in the picture below, you can see cuttles. It's in from the grasses...”
- 02:20 “Can replace it due to the natural animal and human activities. So there are animal activities, there are human activities. One of the animal activities that causes soil erosion is over grazing. Because of this class, we...”
- 21:25 “and describe two ways of preventing flooding. Also, mention the effect of flooding on the environment. Thank you for watching. I am Miss Saifere. Till next time.”
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.
- 14:13 “of production. Namely, land, labor, capital and entrepreneur. Land, labor, capital and world entrepreneur. Let us look at land. Land is one of the most important factors of production because without land, you cannot be...”
- 10:09 “house health, still work actors, house health, still work and so on and so forth. We also have people like the judges, the educationists, ambassadors, soldiers, policemen and so on and so forth. Right? We also have peopl...”
- 02:43 “Like we said that production is getting those raw materials into finished goods and some of the services that has to be provided to make our things to be equal, right? We have types of production, types of production. On...”