<P> Factors of production are defined by German economist Karl Marx in his book Das Kapital as labour, 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 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 the Critique of Political Economy, he uses "productive forces" (that may depend on the translation). </P> <P> 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 . </P> <P> 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 in which the means of production are owned privately by a small class (the bourgeoisie) who profits off the labour of the working class (the proletariat). 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Who owns the means of production under capitalism