Factors of productions

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  • Created by: Laurenkj
  • Created on: 18-11-18 11:34
What is the factors of production
Resources used to produce goods and services. Land labour capital and enterprise
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What is land and give some examples
Concerned with natural resources of economy, e.g wood, water, fish, crude oil
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What is labour and give examples
Concerned with workforce of economy in terms of physics like and mental effort, e.g mechanics, designers, engineers
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What Is human capital
Value of workforce or of an individual worker
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How can the value human capital be increased
Through education and training
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What is capital and give some examples
Relates to human-made aids to production, e.g offices, tools, buildings
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What is enterprise
The factor of production that’s takes a risk in organising the other 3 factors of production.
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Other cards in this set

Card 2

Front

What is land and give some examples

Back

Concerned with natural resources of economy, e.g wood, water, fish, crude oil

Card 3

Front

What is labour and give examples

Back

Preview of the front of card 3

Card 4

Front

What Is human capital

Back

Preview of the front of card 4

Card 5

Front

How can the value human capital be increased

Back

Preview of the front of card 5
View more cards

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