Means of production - definition
Updated: 21 May 2008, 22:56
The means of production is a term which is difficult to clearly define. However, the basic concept is easy to understand.
A simple definition: anything which through ownership generates ongoing income for the owner.
The means of production includes:
- Income-generating land and real estate.
- Transportation systems such as railways, trucking lines, commercial airlines, and shipping lines.
- Commercial enterprises.