NCERT Class 8 Social Science Exploring Society India and Beyond Part-I: Chapter 7 — Factors of Production
This chapter, "Factors of Production," from NCERT's Class 8 Social Science book "Exploring Society: India and Beyond Part-I," introduces the fundamental concept of how goods and services are produced. It explains that every product goes through a production process involving various resources or inputs, which are termed factors of production. The chapter uses the example of Ratna's restaurant, "Pause Point," to illustrate the entrepreneurial journey, highlighting the initial steps like choosing a location, arranging finances, hiring staff, and planning. It defines 'Business or Enterprise' as a firm or shop that combines these factors to create goods and services, thereby generating economic opportunities. The text emphasizes the importance of efficiently using land, labour, and capital for a country's growth and productivity, as noted by Bibek Debroy.
Quick info
| Board | CBSE / NCERT |
|---|---|
| Class | Class 8 |
| Subject | Social Science |
| Book | Exploring Society India and Beyond Part-I |
| Chapter | Chapter 7 — Factors of Production |
| Language | English |
| PDF type | NCERT Textbook |
| Session | CBSE 2026 |
| Reading time | 2 minutes |
| Word count | 296 |
Learning outcomes
- Understand the concept of factors of production.
- Identify the inputs required for producing goods and services.
- Recognize the role of business and enterprise in the economy.
- Appreciate the importance of efficient resource utilization for national growth.
Vocabulary
| Word | Meaning |
|---|---|
| Factors of production | Resources or inputs used in producing goods and services. |
| Production process | The steps involved in creating a final product or service. |
| Inputs | Resources required to produce the final product. |
| Business or Enterprise | A firm, shop, or factory that produces or sells goods or provides a service. |
| Economic activities | Activities related to the production, distribution, and consumption of goods and services. |
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Practice questions
- What are factors of production? Answer: Factors of production are the resources or inputs used to produce goods and services.
- What is a business or enterprise? Answer: A business or enterprise is a firm, shop, or factory that produces or sells goods or provides a service.
- According to Bibek Debroy, where will the largest contribution to growth and productivity come from? Answer: According to Bibek Debroy, the largest contribution to growth and productivity will probably come from more efficiently using land, labour, and capital.
Frequently asked questions
What is the main topic of Chapter 1 in NCERT Class 8 Social Science?
Chapter 1 of NCERT Class 8 Social Science, 'Exploring Society: India and Beyond Part-I,' discusses the 'Factors of Production'.
What are factors of production?
Factors of production are the resources or inputs necessary to produce goods and services.
What is an example of a business or enterprise mentioned in the chapter?
The chapter mentions Ratna's restaurant, 'Pause Point,' as an example of a business or enterprise.
Why is efficient use of land, labour, and capital important?
Efficient use of land, labour, and capital is important for a country's growth and productivity.
What does a business or enterprise do?
A business or enterprise combines various inputs or factors of production to create goods and services and generates economic opportunities.
Related resources
Important topics
Topics covered
NCERT Class 8 Social Science — Exploring Society India and Beyond Part-I — Chapter 7 — Factors of Production. Verified by NCERT Help Editorial Team. Reviewed on 29 Jul 2026. Last updated 10 Aug 2026.