Factors of productions 0.0 / 5 ? EconomicsMacroeconomic GCSEOCR Created by: LaurenkjCreated on: 18-11-18 11:34 What is the factors of production Resources used to produce goods and services. Land labour capital and enterprise 1 of 7 What is land and give some examples Concerned with natural resources of economy, e.g wood, water, fish, crude oil 2 of 7 What is labour and give examples Concerned with workforce of economy in terms of physics like and mental effort, e.g mechanics, designers, engineers 3 of 7 What Is human capital Value of workforce or of an individual worker 4 of 7 How can the value human capital be increased Through education and training 5 of 7 What is capital and give some examples Relates to human-made aids to production, e.g offices, tools, buildings 6 of 7 What is enterprise The factor of production that’s takes a risk in organising the other 3 factors of production. 7 of 7
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