Question

Provide an example of the process of producing a good or service and analyze the production process into the necessary elements of production. Your answer should be as in the following example.

Solved example:
The paper production plant purchases paper pulp made of natural cellulose, then processes this natural material using machines, and workers package and transport the products.
What are the inputs in the above example
Earth Element: Natural Cellulose.
Labor component: packing and transport workers.

The capital component: machinery and transport vehicles.
The Organizational Element: The human effort to manage the production process and bear its risks.

2. Explain the difference between the long term and the short term of production?

Answer 1

Answer:

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