Factors of production

The reason people cannot satisfy all their wants and needs is the scarcity of productive resources. These resources or factors of production are called land, labour, capital, and organization or entrepreneurship . They provide the means for a society to produce and distribute its goods and services.

As an economic term land means the gifts of nature or natural resources not created by human efforts. They are the things provided by nature that go into the creation of goods and services. Land has a broad meaning. It is not only land itself, but also what lies under the land (like coal and gold), what grows naturally on top of the land (like forests and wild animals), what is around the land in the seas and oceans and under the seas and oceans (like fish and oil). It includes deserts, fertile fields, forests, mineral deposits, rainfall, sunshine and the climate necessary to grow crops.

Because there are only so many natural resources available at any given time, economists tend to think of land as being fixed or in limited supply. There is not enough good farmland to feed all of the earth's population enough, sandy beaches for everyone to enjoy, or enough minerals to meet people's expending energy needs indefinitely.

The second factor of production is labour — people with all their efforts and abilities. Unlike land, labour is a resource that may vary in size over time. Historically, factors such as population growth, immigration, famine, war and disease have had a dramatic impact on both the quantity and quality of labour.

Labour is the human input into the production process. It may be mental or physical. But in many tasks it is necessary to combine mental activity with physical effort. The price paid for the use of labour is called wages . Wages represent income to workers, who own their labour. Land and labour are often called primary factors of production . It is one whose quantity is determined outside the economy.

Завдання 2. Поставте десять запитань до тексту.

Завдання 3. Перекладіть речення

1. Умови праці на фабриках за тих часів були дуже поганими.

2. Наш прейскурант покаже Вам у різноманітність нашого асортименту.

3. Ми б хотіли обговорити деякі питання щодо економічної співпраці.

4. Ми б хотіли вивчити ваші можливості щодо інвестицій та капіталовкладень в нашу економіку. (capital investments – капіталовкладення.)

5. Нам потрібні кредити для закупівлі нового обладнання для наших підприємств

Завдання 4. Поставте дієслова у дужках у правильну часову форму.

11. The rain (stop) quickly yesterday

12. I (be) in the same company as John now

13. I (go) to a job fair, after I (finish) university.

14. While I (look) at information on one of the stands for a large international accountancy firm, someone gave me an application form to fill in

15. I (work) from next Tuesday

Завдання 5. У пропусках напишіть відповідне слово чи вислів.

23. That huge corporation is … of soap and other personal care products.

24. There is a good … for healthy foods these days.

25. … of our new product was done by an ad agency.

26. Our company’s soap products are … with other companies.

27. She …her hunger by eating a steak.

28. Marketing managers may define … … as vast number of people or as a relatively small group.

29. The worldwide marketing operations of the Parker Pen Company provide a good example of … … .

30. The level of … in international marketing covers a wide spectrum.

31. Most firms adjust their … … for differences in target markets.

32. Opportunities for international marketers are not limited to countries with the highest … .

33. і. Some firms, such as Black & Decker and Coca-Cola, have adopted globalized marketing … .

(incomes, marketing mixes, strategies, international marketing, involvement, target market, satisfied, competitive, the promotion, market, a marketer)

Завдання 6. Завдання в Інтернет-Кафе.

ВАРІАНТ 13

Завдання 1. Прочитайте та перекладіть письмово текст.