In economics the term factors of production refers to all the resources required to produce goods and services. A paper company might need, among many other things, trees, water, a large factory full of heavy machinery, a warehouse, an office building, and delivery trucks. It might require a thousand workers to run the factory, take orders, market (or sell) the paper, and deliver it to wholesalers or retail stores. It might need thousands more resources of varying size and cost. Some of these items, such as workers’ skills, might be intangible. Together, these resources constitute the factors of production necessary for the paper company to do business.
When quantity supplied is greater than quantity demand, the condition that needed for the price to reach equilibrium would be: The price of the product will decrease to meet equilibrium.
A civil society is a zone of ideas, discourse, and action dominated by progressive values, that transcends national societies and focuses on global issues.
