Ex.19. Consider the factors of production that went into the making of one sheet of notebook paper. Name some of them.

Date: 2015-10-07; view: 410.

Ex.18. Discuss the following.

DISCUSSION POINTS

Ex.16. Using your plan as a base, write a brief summary (25-30 sentences) of the text.

Ex.15. Write a plan of your summary based on Text A.

WRITING

Ex.14. Make a presentation of the topic “Factors of production”.

Ex.13. From your local paper collect advertisements or articles for each of the factors of production. Labour should be easy - job vacancy adverts. But the others will be slightly more difficult.

Ex.17. Write an essay (100 – 150 words) about:

- the importance of factors of production in an economy.

1. How many factors of production are there in an economy? Briefly define each factor of production.

2. Why are the factors interdependent? Explain.

3. What is capital? What is wealth? Give examples.

4. Why is land considered a passive factor of production?

5. How do capital and labour differ from land?

6. How has the workforce changed in Ukraine for the last 25 years?

7. What factors have contributed to those changes?

8. How have those changes affect your life and culture?

9. Why is it important to understand how terms are used in different contexts?

Example: Suppose you go to the supermarket and buy a box of corn flakes. Each of factors of production went into the making of this cereal. For example, some of the things used in the production and distribution of the corn flakes are: box-making machinery, fertilizer, a storage warehouse, prairie or farmland, farm machinery, delivery truck and driver, wholesale middleman, retail grocery store, store clerk, etc.