1. Economics: The Four Factors of Production
COPY IN BINDER

2. The Four Factors are…(copy in binder)
LAND
LABOR
CAPITAL
ENTREPRENEURSHIP

3. LAND (copy in binder)
“Gifts of nature” that make production possible, including:
-Land
-Water
-Animals
-Minerals

4. LABOR (copy in binder)
The term “labor” refers to the nation’s workforce.
This can include anyone who works to produce good and services.

5. CAPITAL (copy in binder)
The manufactured goods used to make other goods and services. Examples include:

6. ENTREPRENEURSHIP (copy in binder)
Entrepreneurs are individuals who start new businesses, introduce new products, and improve a process.
Some Famous entrepreneurs that you might recognize…

7. Let’s Test Your Knowledge with…
“Name that Resource”

8. Name That Resource…
Coal

9. Name That Resource…
Coal… Land

10. Name That Resource…
Forklift

11. Name That Resource…
Forklift…Capital

12. Name That Resource…
Factory

13. Name That Resource…
Factory…Capital

14. Name That Resource…
Oil

15. Name That Resource…
Oil…Land

16. Name That Resource…
Bill Gates

17. Bill Gates…Entrepreneur
Name That Resource…
Bill Gates…Entrepreneur

18. Name That Resource…
Cotton

19. Name That Resource…
Cotton…Land

20. Jill Mack a factory worker
Name That Resource…
Jill Mack a factory worker

21. Jill Mack a factory worker … Labor
Name That Resource…
Jill Mack a factory worker … Labor

22. Name That Resource…
Michael Dell

23. Michael Dell… Entrepreneur
Name That Resource…
Michael Dell… Entrepreneur

24. 4 Factors of Production Collaborative Pairs – Select the 3 Products here or select your own. Write out the four FOP for each product in binder land 4 labor 4 capital 4 entrepreneur (48 total)
Hamburger
Any Vehicle
Pizza

25. Four Factors of Production
Complete the following activities. Turn into bin when finished. –
Four Factors of Production: The Life of a No. 2 Pencil
Do not write on reading. Return reading when finished.
Making Things Entrepreneurs Sell – Joslin’s Mistake and Solution
Exit Ticket – 4 Factors of Production Comprehension Quiz
Complete individually and quietly
Turn into bin when finished