NELC Natural Resources Entrepreneurship Labour Capital

Slides:

Advertisements

Similar presentations

LESSON THREE ~ THE FACTORS OF PRODUCTION ~

Advertisements

Factors of Production Lesson 2. Types of Resources Individuals, families, businesses, and the government make economic decisions concerning the use of.

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

Production Theory.

GOODSSERVICES Physical objects produced for sale Activities done for us by others All kinds of goods and services are scarce (limited) because all of the.

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship.

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship.

4 Factors of Production Project. 4 Factors of Production The four factors of production are the ingredients or elements needed to make a product or provide.

Unit 2, Lesson 5 Factors of Production

Ch. 6 Entrepreneurship and Small Business Management.

Factors of Production.

  What are 7 ways of thinking economically? 10/26 Do Now.

Gross Domestic Product GDP is the total value of all the goods and services produced in that country in one year Tells how rich or poor a country is;

Economic resources. To produce goods and services we need resources. Economic resources are scarce relative to infinite needs and wants of people and.

Introduction to Economics Part 1. What is Economics? What is Economics? – Quiz Choose the correct answer 1. Economics is the political science that deals.

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

Industrial Revolution:

GCSE Business Studies Unit 1 Starting a Business

Human Capital and Capital Goods

Economic Growth in Latin America

Fundamental Economic Concepts

(Factors of Production)

Welcome to Economics PLEASE TAKE OUT YOUR NOTEBOOK

Production An entrepreneur must put together resources -- land, labour, capital -- and produce a product people will be willing and able to purchase 2.

Economics Study of the choices people make when faced with scarcity.

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

ECONOMICS YOU CAN’T ALWAYS GET WHAT YOU WANT…

Factors that Lead to Economic Growth

Enterprise AS Business Studies.

Resources needed to produce goods and services.

Topic I: Scarcity.

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

Factors that Lead to Economic Growth

Economic Growth in Latin America

Economics and Personal Finance

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

Human Capital and Capital Goods

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

Factors of Production.

Factors of Economic Growth & GDP.

Economic Growth in Latin America

Economic Growth in Latin America

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

Unit 7a: Economics Vocabulary.

Economics Unit 1 Intro to Economics.

Essential question: How are goods Produced?

Needs and Wants All humans have the same basic needs: air to breath, food to eat, water to drink, and clothing and shelter to protect us. Beyond these.

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

WHAT GOES INTO MAKING A PRODUCT?

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

WHAT IS AN ECONOMY? Today’s presentation is on the economy. We are going to look at the different components that make up an economy.

What is economics? Economics is the decisions about how to distribute limited resources to satisfy unlimited wants.

ECS 1501 Learning Unit 3.

Warm Up Consider the planning that goes into throwing a party.

FACTORS OF PRODUCTION.

Factors of Production.

Warm Up Imagine you are trying to start your own business…What factors and resources might you need to start that business? What possible problems.

4th Period Seating Chart

Economics Unit I: Intro To Economics

Human Capital and Capital Goods

Natural Resources, Human Capital, Capital Goods, & Entrepreneurship

Consumer Driven Economy

Characteristics of an entrepreneur

Factors that Lead to Economic Growth

The role of the factors of production in an economic system

WHAT IS AN ECONOMY? Today’s presentation is on the economy. We are going to look at the different components that make up an economy.

Unit 2, Lesson 5 Factors of Production

Presentation transcript:

NELC Natural Resources Entrepreneurship Labour Capital Factors of production NELC Natural Resources Entrepreneurship Labour Capital

Natural Resources Fixed in supply Cannot be renewed Found in nature E.g. Oil, water, marine life, forests etc

Entrepreneurship Brings all the factors of production together in a profitable way Characteristics of an entrepreneur Trustworthy Enthusiastic Risk taker Professional Honest Hard working Energetic Passionate

Labour The mental and physical effort of people involved in a business

Capital Does not include money Manufactured resources e.g. machines, tools, and buildings (capital goods) Capital goods are needed to produce goods and services