factors of production 2.0

What is this resource?

• capital resource
• human resource
• natural resource

What is this resource?

• natural resource
• capital resource
• human resource

Land includes...

• The "gifts of nature" or natural resources not created by human effort.

• the tools, equipment, and factories used in production of goods and services

• people with all their efforts and abilities

• individuals who start a new business or bring a product to market.

Capital refers to...

• The "gifts of nature" or natural resources not created by human effort.

• people with all their efforts and abilities

• the tools, equipment, and factories used in production of goods and services

• individuals who start a new business or bring a product to market.

Labor refers to...

• people with all their efforts and abilities

• individuals who start a new business or bring a product to market.

• the tools, equipment, and factories used in production of goods and services.

• The "gifts of nature" or natural resources not created by human effort.

Entrepreneurs are...

• people with all their efforts and abilities

• individuals who start a new business or bring a product to market.

• The "gifts of nature" or natural resources not created by human effort.

• the tools, equipment, and factories used in production of goods and services

A bulldozer is an example of...

• Land
• Labor
• Entrepreneurs
• Capital

Your garbage man is an example of

• Land
• Labor
• Entrepreneurs
• Capital

Bill Gates is an example of...

• Land (seriously though, come on)

• Labor

• An Entrepreneurs

• Capital

WHAT IS LABOR?

• work people do for pay to produce good and services

• actions people do for other people

• any physical object

• The money people get for inheritance