Open source is freely available technology that includes fields like hardware, software, licenses and more. It allows for reduced costs and increased efficiency through sharing source codes and designs. This enables diverse production models and communities through a self-enhancing process. The document discusses open source hardware like 3D printers that can copy themselves, reducing costs. It provides examples of open source projects like RepRap printers that build objects layer by layer and are open source designs that anyone can replicate themselves.