CMA Foundation | Economics | THeory of Production | L1 | Dec 2026 & June 27 | Adv. DIPESH

[00:00:34]Hello good afternoon everyone.

[00:00:50]Come on brothers and their sisters, let's start quickly.

[00:01:26]Jai Ram Bhai, come on, dun dun dun dun dun dun dun dun, hum hum, has the link come, check inside the group, it has not come once, why do you take so much time after saying it, hello, come on friend, it should not take so much time for everything. Have you gone mad?

[00:04:49]what how hello hello hello hey ask them to send the link of CMA foundation friend I had just told him in the office yes say it friend I have to say the same thing again and again friend come on son then don't do the course if you are an Indian son it is fine do the course from there only stay there son he said sir after doing CMA you will get a job outside India easily because whatever happened with the students now I don't feel like staying in this country but because of the government I don't feel like staying now son no problem do the course from the place where you are going so that you get a good job.

[00:07:44]Ok. Yes, because whoever wants to speak about the government should say openly that I have no love for the government. But tell me this useless thing about what it is like to live in the country, brother, you just let it be, then I will say a few things, if they sound bad, son. Isn't it? It will seem as if he has been beaten.

[00:08:11]Isn't it son, go and see what is happening in Kerala, go and see what is happening in Karnataka, go and see what is happening in Punjab, go and see son, you will see the butt in the student protest, it's okay son, it happens like this and then if someone says this then tell him that you are a blind devotee, isn't it son, God has given it to me, let me open it and see all the things, come on, from where should I start, which chapter, I forgot to think, today is off, tonight there is a meeting, today in the evening lecture is off, Deepesh is off, mobile is off, mobile is off, so guys come, let's start with this, let's start with production. I enjoyed life a little.

[00:09:08]Well, how many people have demand supply elasticity?

[00:09:13]Ok. How many people are there online and the demand, supply and everything has been done.

[00:09:24]Sir, look at the news, what do you feel in the news? If you look at the news, there is 100% coverage.

[00:09:29]CGB news was given for the first time yesterday. You are saying that you are sending everything. Whatever you know is only because of social media. Don't go, King. Don't take me into that line. Let me stay away. Isn't it? It is better if I don't say anything.

[00:09:41]Then someone will say that there is nothing in favor or against.

[00:09:44]I am neutral at the moment. are done. are done. It's done, it's done. It's done, it's done. It has happened to people after much pressure.

[00:09:53]Hey, I mean if they are born in large numbers then no, no, then I mean, I thought about demand and supply that if there are only eight to ten children then it is a different thing but not in wholesale, so come brothers and their sisters, today we will start with a little bit of production, right, today we will start with a little bit of production. So, whichever country you visit, whichever God you believe in, greet him like this and we will start with the concept. I will not write about small concepts but I will write them wherever I want. Now I will get this written as Gift of Nature. There is no problem. We will take the concept first.

[00:10:42]Well, all your banking notes have come, hand written notes have not come on the group yet. There are two units left, right? Done after lecture today.

[00:10:50]Okay, factors, let's first go to Theory of Production. Now, son, the online ones need to be fully focused here, get Environment done, it is easy. I do agree.

[00:11:02]Son, everything is there, but the thing is that it is a bit boring. Then we will do it for the child. I am not able to understand from where to study. The important topics have not even started, so son, after this, we will first take Environment and after that we will take Demand Supply, right? Okay, son, what is that chapter, it might be a bit boring, so come, come, come, the one who will write a little logic is going on right now, so come, I will get it uploaded, I will get it uploaded in the group.

[00:11:42]Meaning of Production. First of all, what does Production mean, guys, we will understand it practically from here, right? Now understand one thing. From here we will practically study what things are and how they happen. Come on, come back. Welcome to the Economics.

[00:11:59]What is meant by production?

[00:12:02]Creation of Thing. Ok. Let's start playing in a little detail now because I do n't have anyone's lecture anyway.

[00:12:09]And whose do I have? Whose lecture was that? Since when did this happen? was not good. Ok. Let us go. Yes. Yes yes yes quickly quickly quickly Discussion What is the difference between production and manufacturing Who knows Answer Hands up What is the difference between production and manufacturing Is there any difference between production and manufacturing and both are same So generally now a days we are using both are same but there is difference between production and manufacturing. Now understand quickly that I will not take much time because I have to complete my portion also. There are a lot of things. But we will go into these details. Isn't it? Ah, I will edit this name, I will edit it later.

[00:12:52]Okay, right? Ah yes I do. I edit it.

[00:12:55]Lastly, remind me where did these forms of market come from?

[00:13:02]No more of those forms tomorrow. Ok.

[00:13:29]Okay, yes, now look at production, production is the production of finished goods from raw materials. Okay, and in manufacturing, we saw two things and we are discussing two things. One thing is your production and the other thing is your manufacturing.

[00:13:47]Understand very peacefully and with love. Have you guys read this thing? The answer is yes.

[00:13:51]You must have read all these things somewhere in 11th and 12th.

[00:13:53]But you do n't remember. Let me remind you. Have you read about primary sector, secondary sector and tertiary sector? Yes, I read it. very nice.

[00:14:08]What comes under the primary sector?

[00:14:10]Agricultural comes under the primary sector.

[00:14:13]Then comes the extractive. And the third son was genetic. Isn't it? Like poultry farming, goat farming, etc., which are multiple farming. This is what I actually read. And what comes in secondary, son? In secondary, we saw manufacturing and infrastructure which included construction.

[00:14:35]Ok? What was it? Manufacturing and construction was in? In secondary. And what was inside the tertiary? Whatever auxiliary service plays a supportive role. Is it equal? I have n't told you anything new yet. Now the primary sector was agricultural.

[00:14:50]Now, whatever goods we buy from this primary sector is called production.

[00:15:00]And when it goes into the secondary stage, it is called manufacturing. Sir, what are you talking about, sir? If you explain it with some examples, it will be fun. Look son, no matter how much you search, you will not find it. Isn't it? Now what will he tell you? In manufacturing it will be said that goods come and in production it is goods as well as service. I am not going to tell you the meaning of this. Whether you want to do DPT or do anything. Now let me explain it to you practically. Tomatoes, tomatoes are very tasty.

[00:15:32]What do we do with tomatoes, son?

[00:15:34]Production.

[00:15:36]Ok? sauce.

[00:15:37][laughter] Who do I eat with? Should I eat it with idli? Who should I eat with?

[00:15:47]Yes, yes, it is made with red tomatoes.

[00:15:50]Yes. So what is that red chutney made of?

[00:15:54]Hey, do n't talk to small people. Is there any South Indian here?

[00:16:03]So where is Authentic from? So about Bhai Khobre. It is white. The green one, oh the white one is from the morning. The green one is mint. And the third one which is red in colour is used to make tomato chutney.

[00:16:19]Chilli is like tomato, it does not contain only chilli. And fourth comes your liquid which is called Sambar. So just hey, don't go brother. Tomato.

[00:16:31]What about tomatoes? Production. I too am not feeling like you. I am crazy.

[00:16:36]What happens to the tomato? Production. Now what do you call the ketchup you made from tomatoes? Manufacture.

[00:16:44]Because what is this? Primary. Which one is this? Secondary. Are you able to understand?

[00:16:50]Like wheat. Wheat is produced. But the flour made from wheat is called manufactured flour. If someone has brought readymade flour, just look at the back of it. It is written Manufactured By. Now watch son Yo Yo Honey. Is it okay son? Raw honey what is it made of? Production.

[00:17:10]After processing it and purifying it, it was put in a box. Put your label on it. What will you write? Manufacturing. Now it is not necessary that within man manufacturing its form can change, structure can change, shape can change. You must have created a completely new product. This can also happen.

[00:17:26]So this is how things come into manufacturing. In manufacturing, you can use machinery as well as labour. So within the same production, goods and services come under production and come under manufacturing.

[00:17:40]Now the second thing is that all the goods that are available in the market today, were they available as it is just like that or were they brought to sell directly or were the goods made as per the requirement of the customer.

[00:17:56]Making goods as per the customer's requirement is called production. Hey, whatever things we are buying today, were they not already available in the market because your demand is such, what changes were made in that goods from time to time, this is called production, generally production means process to change the raw material into final goods, this is generally called input into output, what do we call it son, input into output, okay, let's go to finished goods, but in the economic making of the goods, creation of goods for the purpose of selling them in the market is called production. What is Been by Creation of Goods?

[00:18:40]Those who I mean are new then it's okay.

[00:18:43]So you have read the chapter Demand, Supply, Utility, I explained two things to you.

[00:18:47]Utility does not exist, it has to be created; demand does not exist, it has to be created.

[00:18:52]Okay, right? Like now he has said creation of goods. What does creation of goods mean? Wood. Will you use wood directly? No. But will you use the furniture made from it? Yes. I made a chair, will you use it? Yes. What does it mean?

[00:19:07]Production. What do you mean son? Production. Are you able to understand? Is anyone facing any difficulty?

[00:19:16]Tell me quickly.

[00:19:18]What happened? Let us go.

[00:19:21]Production. Production. Production. Isn't it? Just before this I told you that it is like clay. Isn't it? Have you seen this clay, how it looks like, it looks like this, it has a stick, what do you call it, whatever you call it, strip, yes it looks like this, a little solid, a little liquid, like Gulgu, I am not able to understand the clay at first, what is written along with it?

[00:19:57]What is that?

[00:20:01]This is the jelly of our language. The boys understood.

[00:20:07]Look, the children's toys come in different colours.

[00:20:12]So what am I explaining then?

[00:20:17]Hey, he is so soft. But like MC, its shape [laughs] structure would have changed.

[00:20:28]Hey friend, please teach me.

[00:20:35]Statue abe, I didn't over do it, are you a little crazy?

[00:20:46]Listen online people. Some of the offline ones may have some problem with the colour.

[00:20:54]This is the kind of clay strip that you have, son.

[00:20:58]Okay, right? So what now son? This is clay. There is no utility inside the clay.

[00:21:03]What will we do with it? Now you give it to small children, son, they will throw it away. He is not playing with him. But what did you do son? Something or the other was manufactured from it. What did you do? I made it crooked. He looks like a pig.

[00:21:15][laughs] It felt like you have created something, right?

[00:21:19]Now that child will play with it, the answer is yes, it means you have created some goods, right? It means you have created something new due to which utility has been created in it, demand has been created in it and now people are going to buy that thing, this is called production, son. This is called production.

[00:21:35]Factors of production and their classification. Come on, son, how many factors of production are there? There are four factors of production. Which one is it son? There is land, labour, capital and lastly Rikma Manush, entrepreneur, entrepreneur, say whatever you want because the voice does not go inside the paper, son.

[00:21:56]Ok? Land, Labour, Capital and Entrepreneur. Ok? Now we will read about the land. Ok? Land is a common use in a soil and a surface of the earth. Wow! Look, I want you to imagine. Will I say this, not you all, first close your eyes, not me, you all have to do it, everyone is watching that you close it on us, no, everyone close your eyes like this, son, those who are online, close your eyes, if sir says close your eyes then how will you see, hey, I will give instructions in the headphones, I will listen, okay, listen, listen now, now you have done it very well, hey, close your eyes, the one who will not close them, his eyes will be closed permanently, now now you think and imagine, isn't it, what is the earth, you have imagined something else [laughs] is n't it, imagine, imagine, imagine, imagine, now open your eyes, open your eyes, son, open your eyes, now I will tell you what have you imagined, I have talent, I have talent, hey, tell me, you want to clap later, I don't know, I have told you completely wrong, that some great person said it, as if the biopic on his life is going to be completed, who knows, he might hit us in the remaining life.

[00:23:15]Now listen to you, when I said earth, when I said land and you closed your eyes, you immediately imagined that there was earth far and wide. Neither could you imagine a tree nor could you imagine a building. You have just imagined that the earth, the earth, the earth everywhere, you are wandering alone in the desert, that is, separately on that earth. Meaning, you are standing in the middle like this. There is only earth all around.

[00:23:35]Is this what you imagined or not? The Answer Is Yes would not have happened, even if it hadn't. Ok? If someone has imagined something different then change your thinking son, there is nothing else because I know that I cannot ask you what you saw and you cannot tell me, so this is what happened son, look this is a piece of land, we call it land in the general sense.

[00:24:00]This is called the surface of the Earth.

[00:24:06]We call this land in general sense.

[00:24:09]But in economics it is not just called land. We talk about economics, now to explain it I will take an example. Ok? To explain to him how to say as if it were a mano, this remains my favorite example.

[00:24:26]I always stick to this. I don't know why I enjoy it. Ok? Yes.

[00:24:33]Big man is big man.

[00:24:45]What is this son? Bolo Dabba [laughs] There is square and there is rectangle. Okay, right?

[00:24:53]Yes.

[00:24:56][laughter] Who saw both squares?

[00:25:03]Oh God. [laughter] So now this is land son, two pieces of flat, okay now understand it calmly son, understand it calmly, there is no problem, if it is age then forget it, they are not going to ask in the exam anyway, so keep this in mind, right now we are learning about land, we will see what happens here, for example, suppose this is a bungalow son, this is a bungalow plot, so generally people are allowed above this, so where did my plot go [laughter] encroachment came [screaming sound] came, okay yes, plus two ground floor plus two floors, this is permitted for the bungalow, so this is a cool bungalow and whose bungalow is this, okay son, whatever it is, four design game gamer, I will make it disappear from here, son. Okay, right? Yes. I will make such a map for you, son.

[00:26:12]Whose bungalow is this? Baba, should I build a bungalow for DD Sir? Yes.

[00:26:22]Okay, you said DD Sir, so now DD Sir.

[00:26:26]Ok. Hey, who is that brother? How is that online guy using AI and what kind of videos is he making? I don't understand what it means, should I be happy or not?

[00:26:36]So come on, this is DD Sir's bungalow son.

[00:26:38]He made a lot of money from you by selling Pro Batches. Did I tell the truth?

[00:26:43]Ok. What happened now son? There was another plot next to it, son. Now whose plot is this? Very good son. Hey hey [laughter] what's going on now?

[00:27:10]Hey friend, it's not working out. It's causing a bit of trouble today. Yes.

[00:27:29]Mohit Sir brother, I did not understand you after seeing the face, don't pay much attention to the shape, son, this is Mohit Sir, it must be Mohit for you, Mohit Babu is there, always with DD Sir, Mohit Sir, how son, how, okay, I have a viral video of him, I will show you, now listen to me, this is Mohit Sir's plot, now this is DD Sir, son, one day DD Sir was standing outside his bungalow, right, he saw that an unknown person was standing there on the plot next to his, right, oh, I did not say that it was Mohit Sir, now he brought this man here, friend, now you will say how will it look on the other side of the wall, whereas there is no wall, there is a plot, this is the plot that I said.

[00:28:20]Then he saw that hey how are you here, I am here you are there, the song of Baghwan played, son, they said hey brother brother brother brother, are you alright, yes I will have to tell you about that, so we met each other, hugged each other, then whatever happened next I will tell you later and he said how are you here, he said DD Sir said look, he said bastard, he built a bungalow, he made a lot of money, he said by getting it done in CA, it is alright, then he asked Mohit Sir, how are you here, he said brother, this plot on the side is my plot, he said. Okay, right? And I just said I started a new business. Of real estate.

[00:28:56]Why did you start it? Of the state.

[00:29:01]Started real estate business. Speak. Ok?

[00:29:04]How is the construction going? I will climb the stairs myself and see. It would be good if it broke, would it remain strong? So what's wrong with them brother?

[00:29:10]Now suppose that generally the height of commercial construction is a little more. Do you know? Ok? So assume that they are permitted. I believe that son, nothing from your house is lost. Isn't it? Let them assume that a 14-floor building is allowed. How much? 14th floor.

[00:29:27]How much allowance is there for butt bungalows? G plus two means two floors. Do you understand?

[00:29:31]Ground floor, first floor, second floor.

[00:29:34]So he said yes. So he said, how are you here friend?

[00:29:36]He said, "My work had stopped a bit." Then he said, "I need some help." When he asked about you, he said, "Tell me, what help do you need?" He asked, why are we standing outside? Come, let's talk at home. We will sit in my bungalow and talk." They went to DD Sir's bungalow and both of them were talking. Okay. Just talking. Do n't think too much. The lights are on.

[00:29:51]Everything is there.

[00:29:56]Just kidding, just kidding. Okay. Nothing serious. Yes. I heard.

[00:30:12]Tears are priceless, aren't they? So how can they be wasted? Recycle.

[00:30:17]Okay? Now listen brother, listen, listen, listen to me.

[00:30:19]So this is cool, it's absolutely fine.

[00:30:30]Son, I will show you such a future. You won't see this either.

[00:30:32]Just send one more message and I will show you the future. Okay? Just one message, one message. Okay? Just try once. So now, no, no, this is in the dark.

[00:30:44][laughs] So this is the permission for building construction. Then later there was a discussion between DD Sir and Mohit Sir. Mohit Sir said, I need a little help, friend. He said, I need some water. DD Sir said, that's it, okay. They went inside. Hey, bring a glass of water, take it, he said, drink water. Mohit Sir drank water. Now Mohit Sir felt that After giving water I will discuss something both of them sat and said tell me what help do you need he said I needed water he said it has not been given yet he said I need a little more he went inside bring a water bottle he said take this he said you are not understanding I needed a little more water he said it is such a simple thing he brought a bucket of water who wrote he said DD Sir is it okay yes because now I would have sent him there you think something else that is why the bucket came out I know the concept is more now brother Mohit Sir you did not understand Babu see for you there is Mohit Sir Babu but for Mohit Sir there is some other Babu understand what I am saying Babu I need some help he said tell me what do you need he said my construction work has stopped due to lack of water because there is no water a lot of water is required in construction that is why my construction is stopped he said please help me he said how can I help you he said brother we have permission for four bore wells how many four he said these four I drilled four bore wells in the corner I filled two of them with water but they did not get water but the water is not sufficient. So he said, "What can I do with it now?

[00:32:14]What kind of water can I put in the borewell?" "Okay," he said. "No, you have your own plot, and two borewells are allowed on this plot.

[00:32:22]How many? Two borewells. You built one.

[00:32:26]Brother, give me permission for the second one. Brother, I'll install a great borewell 5 feet underground on your land. I'll install amazing machines. I'll pack it from above.

[00:32:34]Your place won't even be damaged.

[00:32:36]Lifetime maintenance will be on my side. If anything happens, if he has a problem, who will take care of it? Mohit Sir is the one who will take care of it. Now tell me one simple thing: replace yourself with Daddy Sir and take your neighbor, whoever is your friend. Will you [screaming voice] give permission to another person to install a borewell on your land? No.

[00:32:58]Why? You bought the land on the surface of the earth. Your building is on top of it.

[00:33:02]What's going to happen to your house? The thing is that. The thing is that. This land is mine.

[00:33:10]All the minerals beneath it. There's water, petrol, diesel, whatever it takes, right?

[00:33:22]Right? We don't keep petrol and IC here.

[00:33:24]Okay? And I can tell you how to do that too.

[00:33:26]Hire a lawyer.

[00:33:29]Okay. Okay, lawyer. Understood? Now, brother, what's wrong? Mohit Sir said, "You've shown me, have n't you? You changed your mind when I stopped you?

[00:33:37]Okay? You cheated me, didn't you?

[00:33:40]Yes, I should call you a cheat." So he said, " What's wrong with you, you bastard?" Mohit Sir got angry.

[00:33:46]Mohit Sir took off his glasses, but Mohit Sir was a Sindhi. He put them back on. He said, "Okay, no problem. I ca n't give you water. I can give you something else."

[00:34:00]Listen, brother, the story is going on. I wo n't disturb you. He said, "I can't give you anything else."

[00:34:04]DD Sir said, "Yes, okay, friend, leave the water and ask for something else." He said, "What do you want?" He said, " Look at the permission for your bungalow. It's a two-story permission. Is construction on top of that allowed for life in the future?

[00:34:16]Suppose it's not allowed, then you ca n't build on top of that."

[00:34:20]DD Sir said, "Come to the point.

[00:34:23]Get to the main topic." He said, "Brother, I've brought Japanese technology. Okay, it's perfectly clear, the technology isn't blurry at all.

[00:34:30]Okay, don't overthink it, son. Stop and watch the lecture. Did you understand? Okay, this is where the data is being consumed.

[00:34:42]Now understand." He said, "Brother, what will I do with Japanese technology? I'll build such a building over you. If the shape changes a little, you'll say brother will change his mind.

[00:34:55]Okay." He said, "How will I build it? It wo n't fall. Don't worry. The Japanese technology will be completely stable in the air, and what will I do inside it?" He said, "I'll build a nice flat apartment. I'll give you a commission for that too." Okay. Will DD Sir permit this type of construction on his own?

[00:35:15]Why not? Who knows, DD Sir might want to get wet in the rain someday. I can go to the terrace and do some kun-fi. Okay, right? Take the opportunity to breathe. He put a chair and sat down. Who knows, he's looking out the window. Whose.

[00:35:27]What's happening to whom, brother? Is it okay? There won't be any breeze. Okay? There won't be any sunlight.

[00:35:34]Yes. Just now, he felt like getting some vitamin D. He went upstairs and slept. He lay down like on a beach. Okay? Is it possible? No. There won't be any rain.

[00:35:44]This isn't it. Will they grant a permit? The answer is, the answer is. No. One person, leaving everything aside, calls Mohit a CA and says, "DD Sir is engaged.

[00:35:58]You also have some interest in DD Sir?

[00:36:05]Tell me, son, I should try something.

[00:36:11]Okay, sir, but the view won't be good. What you're thinking won't be visible because you're down there, son. Yes, we'll have to send it in a drone, then.

[00:36:21]Okay, yes, you're already consuming data.

[00:36:23]Understand me, will they grant a permit? The answer is no. What does that mean? DD Sir will say, "Brother, this land is mine. All the minerals beneath this land are mine. And all the air, water, sunlight above it, it belongs to me above the surface."

[00:36:49]So, in economics, land means on the surface, above the surface, and below the surface. Do you understand? So, this is the meaning of land in economics. Okay, done, son? I hope you won't say land again in your life. Isn't that right, son? Isn't that right? What is this?

[00:37:14]Dark darkness. The darkest darkness, and darkness should persist. Isn't that right? In childhood, we used to see power there. Land has certain peculiar features. Now let's talk about the features of land.

[00:37:26]We and everyone know that land is all natural resources. Look, let's cover these things within it: natural forests, water, climate, minerals. Where are minerals found underground? Okay, where is the forest above the ground? Okay, it mainly supplies food to the people. Provides space for work. Supply raw materials. This is useless talk.

[00:37:51]Now, let's talk about the features of land. First, what is land? A free gift of nature. Okay? Nature gave it to us for free. It doesn't mean that wherever there is land, Pitch a tent and occupy it. Isn't it okay? No. Isn't it?

[00:38:06]Nature has given us land for free.

[00:38:09]We have to buy it from the government. Is n't it okay? But did nature charge us any money for it? No. A free gift of nature.

[00:38:16]Land is a gift of nature. Location of land, deposits of minerals, certain places, climatic conditions, and no doubt, it is a gift of nature.

[00:38:24]How many times do we see someone who is fond of trekking? Someone goes for a trip and after seeing the view, the person says, "Yes, brother, this is heaven, isn't it?" He says, " What a wonderful view!" He says, "It's free, isn't it?" Did you take any money for that? The answer is no.

[00:38:42]Let's move forward, move forward, move forward. Okay. Yes, son, absolutely. Is n't it? Angel Rajputana got the point across. Yes, that's probably what's written. Yes.

[00:38:57]Now understand the point. Limited in supply. Can we increase the supply of land? No.

[00:39:02]Every country has its own geographical boundaries.

[00:39:06]What does geographical mean? Is it? Land is fixed. We can't expand it. If it expands, we'll have to take in two or three adjacent areas.

[00:39:13]Right? Yes. So, there's a limited supply. The answer is yes. The total geographical area of ​​the country remains the same. In fact, certain resources like oil, gas, coal, some wildlife may not be available after some time. We also have n't seen dinosaurs. So what should we do? That's our argument. When someone says save water, save this, save that, we have n't seen the future, then the children say we have n't seen dinosaurs either. We should complain.

[00:39:41]Right? If that existed, you would n't be like this. Right? So why then?

[00:39:46]Land is an immobile factor. What is meant by immobile? Immobile means immovable, right?

[00:39:54]Why is it called a mobile, son?

[00:39:56]Because you could take it from one place to another. There was a time when there was a telephone. You know, brother, the telephone has its own limits. It's a wire, you can't take it very far.

[00:40:06]Later, the wireless one came, but it doesn't work above 30 feet. So, this is a mobile phone. You do n't need to tell me where you take it. You take it wherever you feel comfortable, and I do n't need to tell you. Where do you feel most comfortable? Isn't it? Where all kinds of thoughts come to your mind. Even in the home, son, there's a very special place. A place where a person sits, completely relaxed, and considers it their office. Is n't it? The mobile factor.

[00:40:35]Land isn't movable. Can it be moved from one place to another? No. Because we're not Hanuman Ji. If Hanuman Ji were there, I'd pick it up and put it here. But it's not possible. Isn't it? If that were true, I'd bring my village house to Pune. If I brought my village house to Pune, wouldn't it? It would open the eyes of the people here. It has a courtyard, right? It does exist, son. City people do n't know that a flat is so big you can play cricket in it. A full pitch.

[00:41:05]I talked about it.

[00:41:07]If the girl throws the ball and it goes outside my plot, it wo n't go to her. It wo n't go to her. So big, meaning it connects directly to this road.

[00:41:17][laughs] You'll have to throw it with your left hand. Okay.

[00:41:30]Brother, look, I didn't say anything. Right? That's right, son. That's right.

[00:41:43]Hey, listen, how is it, son? I'm mobile. Do you understand? Can't we shift land from one place to another? Otherwise, brother, it would be fun, right?

[00:41:53]Son, I'm with you, Angel. Then, diminishing return. Diminishing return means how it says, like this place, this classroom, has its own capacity.

[00:42:06]When you keep increasing production on this on a continuous basis, keep increasing the numbers, what will the return be? It will keep decreasing. For example, let me give you a simple example. Suppose this classroom has a capacity of 50 students. How much is the capacity? 50 means absolutely relaxed. It sits there. 50 Now, suppose tomorrow 75 students come, and then we'll have to accommodate ourselves three or four times on one bench.

[00:42:31]Will efficiency be affected? Will returns be affected? The answer is yes. The neighbor will disturb you, right? You'll go to do sums and get pushed. While doing math, you get pushed. Your mind will be disturbed, right? What will the output be? It will decrease.

[00:42:44]I too will be disturbed because the controller will ask me to write it down. It's not happening. The thing is, this line is fixed now. We can't increase it.

[00:42:52]But how will the output be? It's going to remain fixed. They say the more people you employ, the more returns it will generate after a certain time. It wo n't generate much. So, there's diminishing returns. Early economic leaders held the view that land is subject to the law of diminishing returns. Increased use of capital and Labor on any given quantity of land would give a diminishing return. Let's say, okay? Or you might have noticed that this is an office. Now, if it's an office, then it's an office. If you want to consider it farming, then it's like this. Now, let's say I considered farming. I employed one person here. I employed one here. I employed one here.

[00:43:38]Okay? His arms have grown longer and longer.

[00:43:41]Okay? Can he work comfortably?

[00:43:43]The answer is yes. Now I employed two additional people. Can he work comfortably? He said, "That's it, right now, I've employed more people.

[00:43:59]Can he work? Can he work now? Can he work now?

[00:44:02]Can he work now?" The answer is no.

[00:44:06]Now they'll just be hitting each other with something or the other. They've grown so close that they're hugging each other.

[00:44:11]You get my point, okay? What does all this activity mean? You Even if you've increased labor.

[00:44:21]Even if you're investing more capital. You're paying these people, right? But will the returns increase? No. Those returns will decrease because what are they doing? Disturbing each other.

[00:44:31]So it's better if they work freely. The more efficiently they work, the better they work, and the more output will increase.

[00:44:40]Right? The more output will increase. Say yes or no? Yes, son. That's all I have to say.

[00:44:46]Diminishing returns. And the fifth one is land differs in fertility. What does fertility mean? It's referring to production.

[00:44:55]For example, you're just assuming the mango season has passed, and mangoes are available all over India.

[00:45:01]But the mangoes from Kokan in Maharashtra are not available anywhere else in India, or even the world. Right? Alphonso, which we affectionately call Hapus. Right? Now, will you find these anywhere in the world? No. Why? Because the soil and the environment it requires are available only in Kokan. Right? Right?

[00:45:23]Like, where did you grow Apple in Himachal? Okay?

[00:45:28]Now, you bring those trees from Kashmir and plant them in Pune. They'll die, and if they do, they wo n't even bear fruit. What's the reason, sir?

[00:45:37]Fertility, sir. The land they need is available there. Like, where do I come from, son? Properly, Vidarbha, Akola, is a region in Maharashtra. Generally, there's less water there, so it's considered dry. But it's also famous for what, son? That white gold, which is called cotton. Cotton needs sunlight; the more sunlight, the fluffier it becomes, the softer it becomes.

[00:46:03]These other Vidarbha people have come, right? Yes, I'm studying here, right? Yes. They think they have nothing.

[00:46:17]We don't have it.

[00:46:22]What do you mean by White Gold Quarter?

[00:46:26]Well, if it's Vid, what does it mean? If there's no water, there's no food. It's not like that.

[00:46:32][Laughter] There's corruption.

[00:46:37]Lines differ in A. Fertility. Fertility is different. Now, as you know, rice cultivation is completely submerged in water. The fertility there is different. The land in the South has different fertility. The land in Punjab has different fertility. The land in the South East and the North East has different fertility. The fertility of each land is different. It's a simple matter. So, what's being discussed here? The fertility of the land is different. There will be a difference in the fertility of the land as a result of the output change from one plot to another. The output of one plot may differ from the output of another. Because of these peculiarities of land, the early economics considered land as a separate factor of production. Okay. Now tell me, online people, did anyone have any problem getting started? Sorry, sir. No problem, brother, Rizwan, do n't worry so much. Study and live happily.

[00:47:35]Okay? Now understand the point. We studied land.

[00:47:38]What was land, son? Tell me quickly today.

[00:47:40]MCQ asks. Does land mean only on the surface? No. Is it only above the surface?

[00:47:44]No. Is it only below the surface?

[00:47:46]No. It means all three: on the surface, above the surface, and below the surface. Done. Standing. Then later he says about the features of land. There were five. Which ones were there? Free gift of nature. Second, limited supply. Supply cannot be increased. Third, immobile factor. It is not movable from one place to another.

[00:48:02]Fourth, diminishing returns.

[00:48:05]What is the return on this?

[00:48:07]Diminishing. It decreases. The more people you employ, the more your output will not increase. Imagine this is an office. And we have so many people working in the office. How will we work? If you can sit with your laptop open, then sit and look at each other's laptops.

[00:48:19]What will work? Nothing will get done.

[00:48:21]Right? Diminishing returns. And lastly, land differs in its fertility. Every land Look, understand this. In any city you live in, there's a difference in the price of land in two areas. For example, if you go to purchase land here, you'll get a different rate. If you go to Koregaon Park, you'll get a different rate. If you go to FC Road, you'll get a different rate. If you go to Wagoli, you'll get it for free.

[00:48:46]Right? There's a slight difference, isn't it? It's not free. I'm just kidding. It's money, brother. It has value. It's not that it doesn't have value.

[00:48:55]A lot, but compared to this, its price will be a little lower. You can get a 1,000-square-foot plot there for under Rs. 20-30 lakh.

[00:49:03]Buy it in Pune and show me how you buy it in the city. No matter how well-off your relative is. Why not just your father-in-law? They won't give it to you. Here, even 1,000 square feet costs crores.

[00:49:15]The reason is simple, isn't it?

[00:49:19]Come on. No one has a problem, no one Problem, if there is no other problem then I should be able to see it through likes, son. So sit on it.

[00:49:34]Sir, we are from Bihar and what does this mean?

[00:49:40]Okay.

[00:49:46]Sir, have you ever visited Gokuldham Society from Alibag? That's great brother, I will come someday and visit all the places. Come on son, like it in large numbers, son, I need at least 150 likes. I need 150 minimum likes. Come on, bye bye, take care.

[00:50:22]Where are you going?