Episode Synopsis "11. The Structure of Production"

As factors of production, supply and demand of labor, land and capital will determine how much the producer will get out of this process. This process occurs in different stages. In the earlier or higher stages, producers' goods must be produced that will later cooperate in producing other producers'  goods that will finally co-operate in producing the desired consumers' goods. The consumers' good is valued because it is consumed - directly satisfying man's ends.Part 11 of 14. Presented in 1986 at New York Polytechnic University.

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More episodes of the podcast Introduction to Microeconomics

• 1. Intro to Micro: Demand and Supply
• 2. Value
• 3. The Determination of Prices
• 4. Price Controls in the Oil Industry
• 5. Minimum Price Controls
• 6. Government Licensing of Industry and Minimum Wage
• 7. Mid-Term Review and The Theory of the Firm
• 8. The Firm
• 9. Monopoly and Competition
• 10. Government Cartels
• 11. The Structure of Production
• 12. Labor and Unions
• 13. The Labor Market
• 14. Interest Rates and Course Review