give an general introduction to village of palampur
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Answer:
An introduction to some basic concepts related to production through a hypothetical village called Palampur where farming is the main activity. The village also has several other activities such as small scale manufacturing, dairy, transport, etc, carried out on a limited scale.
Explanation:
your answer
Answer:
production through a hypothetical village called Palampur where farming is the main activity. The village also has several other activities such as small scale manufacturing, dairy, transport, etc, carried out on a limited scale.
Palampur is fairly connected with a well-developed system of roads, transport, electricity, irrigation, schools and health centres. The story of Palampur takes us through the different types of production activities in the village. In India, farming is the main production activity across villages.
Organisation of Production
The main aim of production is to produce goods and services, which require four essential components.
Land and other natural resources such as water, forests, minerals
Labour
Physical Capital such as tools, machines, buildings, raw materials and money
A variety of raw materials are required during the process of production, such as the yarn used by the weaver and clay used by the potter. Money is also essential during production and both of them in hand are called working capital. The fourth requirement is knowledge and enterprise to be able to put together land, labour and physical capital and produce an output. The factors of production are combining of land, labour, physical capital and human capital.
Explanation:
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