(Factors of Production)

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Presentation transcript:

(Factors of Production) Economic Resources (Factors of Production)

Natural Resources Materials that come from the: Earth Water Air Examples: iron ore, gold, oil, trees, wildlife, oxygen, etc These resources are limited and most are non-renewable

Natural Resources

Capital Resources Equipment and money used for business purposes Examples: buildings, tools, trucks, factories, money spent on acquiring these things Capital resources usually last for a long time

Capital Resources

Human Resources Also called “Labour” The people who work to create the goods and services Examples: farmers, factory workers, construction workers, website designers, nurses, doctors, teachers, pilots, etc Includes both physical and mental labour

Human Resources