The Story of Village Palampur Class -IX Prepared by - Bijaya Sankar Sahu BHUBANESWAR ¥ (7a. He § pei" ei hah ht ee a+“ Palampur is well-connected with neighbouring villages and towns by an all weather road . + Many kinds of transport like bullock carts, tongas , bogeys , motor vehicles like motorcycles, jeeps, tractors and trucks are used for transportation . “+ Most of the houses have electric connections. Electricity powers all the tube wells in the fields and is used in various types of small business. +» There are two primary schools and one high school. CMa CE MATA) Ue Nao and one private dispensary where the sick are treated. +? In this way,Palampur has fairly well-developed system of roads, transport, e ores ULL ity, irrigation, schools and health centre~> Production : Neda is Ca » Factor of production Factors of Production Land Labour Capital Entrepreneur (Mental or (Man-made mean. (Risk taker, Physical of production, e.g. organiser, binder done — machinery, buildings, of other factors) for income) air etc.) Fixed Capital Machinery, Building)FACTORS OF PRODUCTION: Land : It refers to land and other natural resourceé such as water , forests , minerals , etc. . Labour : People who are engaged in some work(physical or mental) are called labour . There are skilled as well as VTS Cote Physical Capital : The variety of inputs required at every stage during production are called Physical capital There are Fixed Capital as well as Working Capital. Human Capital : Human knowledge and enterprise are required to put together land , labour and Physical Capital to produce an output . This is called Human CapitalDISTINGUISH BETWEEN FIXED AND WORKING CAPITAL Fixed Capital Working Capital *Resources that remain = * Resurces that changes fixed at all levels of with the change in the production. levels of production. *Tools, machines, * Raw materials and buildings can be used in money in hand are called production over many working capital. years and are called fixed CrileDear students, in case any doubts. Contact to- Whatsapp No-7873214463