Factors of production One morning y

Factors of production
One morning you wake up with a great idea. You’ve thought of a product that no one else has and you
are certain there's demand for it. But how will you turn your idea into reality? First of all you will need raw materials to manufacture from, probably oil and metal, but also paper for packaging. You can't produce it by yourself, so you'll need people to help you make it, package it and market it. Finally, your staff will
need a factory and machines to produce with. In short, you need the factors of production: land, labour and capital.
The factors of production are the starting point for all economies. No economy can exist without them. The most basic of the factors is land. When economists talk about land, however, they don’t just mean space to build on or fields to grow crops. Land means everything that nature provides and we can use for
production. The land factor includes raw materials like coal, metals, oil and timber. It also includes things like water, fish and salt. So, although it seems illogical, land also means the sea!
The second factor is labour. Raw materials will just stay in the ground unless people dig them out and do something with them. Similarly, factory machines will sit doing nothing without people to operate them. Labour can mean the physical effort such as lifting, digging and building. This is called manual work. Labour also includes mental work like thinking, writing, communicating and designing. Industries that need many workers working long hours are called labour intensive industries. However, the quality of labour is as important as the quantity. An educated, skilled and fit workforce is more productive than and uneducated, unskilled and unhealthy one. This characteristic of the labour factor is called human capital. Some countries have large labour forces, but are poor in human capital because the economy lacks education and health care.
The third factor is capital. Capital includes buildings such as factories for production and warehouses for storage. It also includes the tools and equipment that workers use in the manufacturing process. In heavy industries such as shipbuilding or steel making, capital usually involves big machinery and mechanical equipment. In high-tech industries, on the other hand, capital generally means computers and
complex laboratory apparatus. These days, industry tends to be more capital intensive than labour intensive.
When companies make investments, they buy new capital. There are two types of investment that companies need to make. The first is to buy new equipment so that they can expand their production. This is called net investment. Net investment is essential for economic growth. However, equipment gets
old and needs repairing or replacing. The money spent on this kind of maintenance is called replacement investment.
Land, labour and capital are the three factors of production identified by Adam Smith and the classical economists. However, more recent economists have identified one more factor: entrepreneurship. This means people like you, with great business ideas that set the economy in motion.

Результаты (русский) 1:

Factors of production One morning you wake up with a great idea. You’ve thought of a product that no one else has and youare certain there's demand for it. But how will you turn your idea into reality? First of all you will need raw materials to manufacture from, probably oil and metal, but also paper for packaging. You can't produce it by yourself, so you'll need people to help you make it, package it and market it. Finally, your staff willneed a factory and machines to produce with. In short, you need the factors of production: land, labour and capital. The factors of production are the starting point for all economies. No economy can exist without them. The most basic of the factors is land. When economists talk about land, however, they don’t just mean space to build on or fields to grow crops. Land means everything that nature provides and we can use forproduction. The land factor includes raw materials like coal, metals, oil and timber. It also includes things like water, fish and salt. So, although it seems illogical, land also means the sea! Вторым фактором является труда. Сырье будет просто остаться в земле, если люди выкопать их и сделать что-то с ними. Аналогичным образом фабрика машины будет сидеть, делать ничего без людей, чтобы управлять ими. Труда может означать физических усилий подъема, рытье и здания. Это называется ручной работы. Труда также включает в себя умственной работы как мышление, написание, общения и проектирование. Отраслей, которые нуждаются многие рабочие долгие часы, называются труда капиталоемких отраслей. Однако качество труда так же важно, как количество. Образованных, квалифицированных и подходят рабочей силы является более продуктивным, чем и необразованные, неквалифицированных и нездоровой. Эта характеристика труда фактором называется человеческого капитала. Некоторые страны имеют большой рабочей силы, но бедных в человеческий капитал, потому что экономика образования и здравоохранения. Третьим фактором является столицей. Капитал включает в себя здания, такие как фабрики для производства и склады для хранения. Она также включает в себя инструменты и оборудование, что работники используют в процессе производства. В тяжелой промышленности, таких как судостроение или стали столица обычно включает в себя большой машины и механическое оборудование. В высокотехнологичных отраслях, с другой стороны, капитал обычно означает компьютеров икомплекс лабораторных аппаратов. В эти дни, промышленности, как правило, будут более капиталоемкими, чем интенсивного труда. When companies make investments, they buy new capital. There are two types of investment that companies need to make. The first is to buy new equipment so that they can expand their production. This is called net investment. Net investment is essential for economic growth. However, equipment getsold and needs repairing or replacing. The money spent on this kind of maintenance is called replacement investment. Land, labour and capital are the three factors of production identified by Adam Smith and the classical economists. However, more recent economists have identified one more factor: entrepreneurship. This means people like you, with great business ideas that set the economy in motion.