1. 4.3 Production factors

2. 1.3 Production factors Definition Natural resources
Capital and technology
Labour

3. Definition
Production factors are all those elements used by businesses to undertake their activities, produce goods and services and meet people´s needs. They are natural resources, capital, technology and labour.

4. Natural resources Provided by nature - Examples?
Basic in some economic activities
Types: renewable and non-renewable
Problems: a) exhaustion and overuse  SUSTAINABLE DEVELOPMENT
b) International conflicts

6. Capital and technology
Capital: non-natural resources
Physical
Financial
Human
Technology: knowledge, methods and procedures
Manual
Mechanised
Robotised

7. Labour Physical or intellectual effort
Essential factor for businesses and families

8. Labour
Labour force and inactive population
Unemployment rate

10. Labour Labour problems:
Unemployment in developed and underdeveloped countries.
Working conditions
Developed countries: more regulation but lose of rights.
Other countries: abuses, discrimination and child labour.