Editing Means of production (section)

== Related terms ==
[[Factors of production]] are defined by German [[Philosophy|philosopher]] [[Karl Marx]] in his book ''[[Das Kapital]]'' as labor, [[subjects of labor]], and instruments of labor: the term is equivalent to means of production plus labor. The factors of production are often listed in economic writings derived from the [[classical economics|classical school]] as "land, labour and capital". Marx sometimes used the term "[[productive forces]]" equivalently with "[[factors of production]]"; in ''Kapital'', he uses "factors of production", in his famous Preface to his ''[[Critique of Political Economy]]: [[A Contribution to the Critique of Political Economy]]'', he uses "productive forces" (that may depend on the translation).

[[relations of production|Production relations]] (German: ''Produktionsverhältnis'') are the relations humans enter into with each other in using the means of production to produce. Examples of such relations are [[employer]]/employee, buyer/seller, the technical division of labour in a factory, and property relations.

[[Mode of production]] (German: ''Produktionsweise'') means the dominant way in which production is organised in society. For instance, "[[capitalism]]" is the name for the [[Capitalist mode of production (Marxist theory)|capitalist ''mode of production'']] in which the means of production are [[Private property|owned privately]] by a small [[Social class|class]] (the [[bourgeoisie]]) who profits off the labor of the [[working class]] (the [[proletariat]]). [[Communism]] is a mode of production in which the means of production are not owned by anyone, but [[Common ownership|shared in common]], without class-based [[exploitation of labour|exploitation]]. Besides capitalism and communism, there is another mode of production which is called a Mixed Economic System. In a mixed economy, private ownership of capital goods are protected and a certain level of the market economy is allowed. However, the government has the right to intervene in the market and economic activities for social objectives. Different from the pure capitalism, the government regulation exists to control particular means of production over the private business sector. Different from communism, the majority of means of production are privately owned rather than shared in common.<ref>{{Cite web|author=Investopedia Staff|title=Mixed Economic System Definition|url=https://www.investopedia.com/terms/m/mixed-economic-system.asp|access-date=2021-04-25|website=Investopedia|language=en}}</ref>