Chapter 28. Production and the Combination of the Factors
1. What is production? Does the economic idea of production conflict with the physical principle that matter cannot be created?
2. Is it production to buy fifty cents' worth of yarn and knit a pair of socks worth twenty-five cents if you enjoy doing it? If you do not enjoy it?
3. Give examples of factors of production.
4. What factors of production must be combined by a savage to produce a canoe?
5. Outline the combination of factors that has produced New York bread made from Minnesota wheat.
6. What is the largest manufacturing establishment in your home town? Would a number of smaller establishments of the same sort and with the same aggregate capacity succeed as well? Why?
7. Have you observed the growth of any local industry from a small beginning to large proportions? If so, how do you account for it?
8. Would you prefer to begin your business career with a large company or with a small merchant? Why?
9. Through what historic stages has production passed?
10. Give examples of the industrial advantages of America as compared with Europe.