explain the main function of production
Answers
Explanation:
Ans 1 : (I) Seasonal work : In most of the industries, the demand for labour was seasonal. The actual possibility of getting a job depending on existing networks of friendship and kin relations.
(ii) Low wages : The workers were getting very low wages. At the best of times till the mid nineteenth century, about 10% of the population was extremely poor.
(iii) Women workers : Factories employed large number of women. With technological development women gradually lost their industrial jobs.
(iv) Problem of housing : Most of the workers were living in slums. Factory or workshop owners did not house the migrant workers.
(v) Source of Fun and leisure : For the poor workers the streets often were the only place for rest, leisure and fun. The working poor created spaces of entertainment wherever they lived.
Ans 2 : (I) They supervised the weavers.
(ii) They collect supplies from them.
(iii) They act as a mediator between the weavers and the britishers.
Answer:
Firms use the production function to determine how much output they should produce given the price of a good, and what combination of inputs they should use to produce given the price of capital and labor.
Explanation:
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