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.
- 24:05 “to do it very well. So that's how specialization works because we look at comparative advantage. What can you do best better than any other person? You handle that part. Whoever is best at washing or doing the dishes and...”
- 22:33 “of the product rather than the whole product. So like we said, with division of labor, one person doesn't have to do or create the entire product. It takes just one part of that process and handles it. Now, okay, I alrea...”
- 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.
- 15:58 “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...”
- 16:46 “good example of them. Semi-skilled. We have skilled labor, semi-skilled and our skilled labor are those ones who does not need any training for whatever they would do. Like the get men, cocaine, the gardener, the house h...”
- 09:16 “services, we can also divide them into three direct services, an environment to have commercial, direct services are those ones who give you direct service and pay for the services given to you. All right? In direct, tho...”
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.
- 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...”
- 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...”
- 15:08 “Bless and at your service, my name, say your next class.”