Surplus Production:
- The main occupation of the people of village Palampur is farming.
- Palampur is well connected with neighboring villages and towns.
- The village has about 450 families.
- There and the following requirements of production: Land, Labour & Capital.
- Capital is divided into 3 types: Physical capital, Fixed Capital & Working Capital.
- These are also known as the factors of production.
- According to a survey by Dept. of Agriculture of India: 36%of the cultivated land belonged to small farmers and 64% belonged to Medium and large farmers.
- Anything left after the production is known as Surplus.
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