Economy Factors of Production

The term "factors of production" means:

• things or skills needed to produce goods or services
• how we spend our money
• the resources of the government
• how society creates jobs

Tools we use to make products

• capital resources
• human resources
• natural resources
• entrepreneurs

Individuals who come up with a new idea for a good or service, then they make it a reality

• resource
• human resources
• consumer
• entrepreneur

An Entrepreneur

• owns his/her own company

• is a teacher

• works at Chick Fil A

• is a NASCAR driver

Which of the following is a capital resource?

• sewing machine

• money

• scissors

• All of the above

A garbage truck driver is an example of which Factor of Production?

• labor
• land
• entrepreneurship
• capital

Iron, minerals, coal and plants are examples of which productive resource?

• land
• labor
• entrepreneurship
• capital

factory worker

• Natural
• Labor
• Capital
• ????????

Which factor of production would you consider a lawn mower?

• Land
• Labor
• Capital
• Entrepreneur

What is this resource?

• capital resource
• human resource
• natural resource