' ECONOMICS LITERATURE '

DAY ONE (1)

ART FACTORS OF PRODUCTION.

The objective of every writer is to write better, sentencing  spirited lines and rhymes depicting the best imageries that are opulent, velvet and superfluous to be heard and seen.  Also to get goodwill and some glad tidings about their work. But we all fail and still failing to utilize some factors that will help us enhance the ordinary words into extraordinary, the delicious food into oozing out a beautiful smell.

Below are the ' Art factors of production. '

1.Brain
2.Human (Poets or Writers) labours
3. Pen (figure of speech)
4.Muse (interest and inspiration)

Before that, I will define what ' Art factors of Production ' is:
They are agents, resources or components conglomerated to produce goods and services, also they are combined to provide ' Utility. '

             BRAIN
This is a ' free gift of nature ' like other free gifts of nature (e. g heart, ribs, veins etc)

       Features of the Brain.

It is fixed: Very gross in sense that, the brain doesn't fluctuate as no circumstances can make it change it position.

It quantity varies: The rate at which I think differs from the way you think,  the rate at which I venture my brain into things differs from the way you venture yours which make its nutrients (strength) vary.

It is a subject to depreciation: I am yet to come into conclusion about this, as I 'm yet to see a clear evidence, but following the scientist proff. It is said that when a man attained the age of 45, his brain starts to experience wear and tear (as he starts to loose some memories) . Perchance as a result of old age or as a result of too much cultivation (thinking and other things that attracts the brain) , so the brain starts to lose it nutrients and no longer function or act actively just like it does when it was still at the fountain of its youth.

The reward for brain is ' Rent ' : Every free gift of nature is a better half to ' Rent' just like the heart.  For it shall return to it owner (God).

It is immobile: The brain can't change its location.

No two parcels of the brain are the same : Just like no two parcels of land are the same,  we may have the same brain shape with the animals but the number of neurons or the type of glands and how they function may differ.

         HUMAN (Poets or Writers)

In economics we call them ' Labours ' they utilize their efforts into the production of goods and services for utility.

They are two kinds of labours:
1. Brown collar labours
2.White collar labours

   Brown Collar Labours.
This is kind of labours are prevalent in the world this days perhaps as a result of unemployment opportunities.  They are set of people who have less knowledge about art (literature), so they utilize and strain their mentality and energy into the production of goods and services,  as a result of not having complete knowledge about art.

   White Collar Labours.
These set of people are qualified and competent personnel, they only make use of their episodic intelligentsia into the production of goods and services, they have full knowledge about their job and are endowed with series of recognition in the art realm.

Features Of Labour.

It is mobile: It can move from one geographical location to another.

It has skill.

It controls all other factors of production.

They are integral in production that is,  output can do with them.

It has initiatives as it consent must be consulted.

Its rewards are wages and salaries: Many people write for money, while some take it as an occupation to earn living.

         PEN (Figures of speech).

In economics we refer to it as ' Capital. '
Here the pen is referred to as man made asset which is used in production. it is a man made wealth use to produce other goods and services.

Also here the ' Figures of speech' can be referred to as capital because it an integral tool to write better it also a starting step to scribble better.

        Features of the Pen.

it is durable because it lasts long for its possessor as it produces other wealth.

It is a subject to depreciation : It can be converted to cash (write ups).

It ensures large scale of production.

The reward for it is ' Interest' : I explained earlier that most writers write for money.

           MUSE (interest and inspiration)

This controls all other factors of production. Be it interest or inspiration, it controls the labours(writers or poets).
Actually I have read so many articles that says ' Don't let your muse control you ' but before a writer can write he has to be in the mood with the interest to write.

         Futures of Muse.

It controls other factors of production.

It bears the risk: Here the risk it can encounter is the risk of loss in form of a critique against it work, and the profit will be in form of felicitations on it works.

It ensures effective management.

It ensures effective organizations.

Art Law Of Variable Production.

This states that , a successive unit of variable factors (human, pen) is added to a fixed factor(brain), output will increase at first but it will get to a point that an additional unit of variable factor will be added which will result to decrease in output.

Ismail Junaid Oluwadamilare.
(Paciolo Pen Saint)