ABSTRACT
This chapter argues that there is one product whose daily output is either consumed or used to put back as an instrument of production or capital good into the productive system. It also argues that there are three factors of production: the capital good, labour, and land. It discusses the marginal products of capital stock, labour, and land at any one time as, and respectively. The chapter considers how can express economic growth in terms of this very simple one-product capitalistic production function. The similar proportional marginal net product of land or measures the percentage increase in his output which any entrepreneur could achieve by using 1 per cent more land. This will also measure the proportion of the national output going to rents in our perfectly competitive economy; and it will also measure the ratio of the marginal to the average product of land.
