Jan 18, 2023
The purpose of the article is to introduce some basic concepts related to production, through the story of Palampur which should be studied thoroughly during the UPSC exam preparation.
It is a process that is aimed to produce the goods and services that we want. There are four factors of production:
Human capital, land, labour and physical capital are put together to produce an output.
Farming is the main production activity in rural India, but the major constraint being, that the land under cultivation is almost fixed (almost stagnant since 1960).
Also Read: National Land Monetization Corporation (NLMC)
Also Read: Land Resources and Agriculture of India
People feed their buffalos various kinds of grass and the Jowar and Bajra that grows during the rainy season. The milk is sold in, the nearby large villages, from where the milk is transported to far away towns and cities.
Unlike in big factories, manufacturing in Palampur involves very simple production methods and are done on a small scale. They are carried out mostly at home or in the fields with the help of family labour. Rarely labourers are hired.
The traders of Palampur are shopkeepers who buy various goods from wholesale markets in the cities and sell them in the village.
Various modes of transport are used to ferry people and goods in return of which they get paid, thus generating an economic activity. This sector has grown over the past few years.
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