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Capital Intensive
Where production relies more heavily on machinery relative to labour
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Entrepreneur
A individual who oragnises the other factors of production and risks their own money in a business venture.
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Factors of Production
The resources used to produce goods and services. They include land, labour, capital and enterprise.
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Fixed Capital
The stock of manmade resources such as machines and tools used to help make goods and services.
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Human Capital
The value of the workforce or an individual worker.
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Labour
The people used in production.
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Labour Intensive
Where production relies more heavily on labour relative to machinery.
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Production
A process which involves converting resources into goods or services.
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Productivity
The amount of output that can be produced with a given quantity of resources.
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Working Capital or circulating Capital
Resources used up in production such as raw materials and components.
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De-industrialisation
The decline in manufacturing (secondary sector)
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Other cards in this set

Card 2

Front

Entrepreneur

Back

A individual who oragnises the other factors of production and risks their own money in a business venture.

Card 3

Front

Factors of Production

Back

Preview of the front of card 3

Card 4

Front

Fixed Capital

Back

Preview of the front of card 4

Card 5

Front

Human Capital

Back

Preview of the front of card 5
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