Factors of production are resources people use to produce goods and services.

factors of
productions are divided into four categories: land labour capital entrepreneurship. According
to Neoclassical tradition capital was treated like land and labour which was a part of factors
of production. For the work done by all of these factors of production, return was given to
each factor. Neoclassical economics became the main form of vulgar economics as per
Marx. Marxist analysis differed from traditional analysis due to the concept of exploitation.
Capitalism blocks the possibility of achieving radically egalitarian distribution of the material
condition of life one of the great achievements of capitalism is to develop human productive
capacity yet, capitalism also creates institutions and power relations that block the actual
achievement of egalitarianism it is a process which continuously enhances the material
conditions for the expanded scope of human flourishing by simultaneously locking the
creation of social conditions for realising this potential.
In contrast to the neoclassical tradition, the marxian tradition considered capital and Labour
as more than just resources. he stated that it is expressed more than a technical relation of
production this Can further be understood as all means of production was considered as
capital in marxist tradition.This meant that the labours were liberated to sell their own labour
and they were not slaves. Exploitation in capitalism THe worker is exploited when he is not
in control of his labouring duties. According to Marx, the society exploits labourers; they are
forced to sell themselves to the capitalist for less value than what they produce. Business
owners pay wages to workers in exchange for all the valuable stuff they create, profit only
exists if wages are less than value workers created. The workers can never receive full value
for their work. According to marxist theory, the phenomenon of exploitation was for all class
based societies not just in capitalism.