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? SECTION 5: PRODUCTION CONTENT

SPECIFIC OBJECTIVES Factors of Production: land, labour, capital,
Students should be able to: enterprise/entrepreneurial skill.
1. identify factors in the production
Caribbean industries developed from
of goods and services; agricultural produce, mining, fishing, and
2. identify industries developed from other areas.

the natural resources of Caribbean Output produced versus output per unit of
territories; input.
3. differentiate between production
and productivity; Productivity as it relates to the efficiency of
4. explain the importance of labour, including its value and importance; the
productivity; factors affecting the labour supply; human
resource development (including education,
5. explain the role of capital in health, and working conditions); importance
production; of a positive work ethic; use of capital to
improve productivity; land use and declining
6. differentiate amongst types of productivity in the region.
capital;
Capital’s use in producing other goods; to
7. classify the different types and undertake production that labour would not
levels of production; complete in a timely manner (for example,
deep sea drilling).
CXC 08/G/SYLL 17
Fixed, working and venture capital.

(a) Types of Production:

(i) extractive (agriculture,
mining, fishing);

(ii) construction (building);

(iii) manufacturing (assembling,
refining); and,

(iv) service (transport,
communication, tourism).

(b) Levels of production:

(i) subsistence;

(ii) domestic consumption;

(iii) surplus; and,

(iv) export.

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