1. The Factors of Production by: Ben Quick

2. Factors of Production
$ Resources that can be used to produce goods and services
$ Goods are items people buy
$Services are the activities done for others for a fee
Capital
Entrepreneurship
Land
Labor

3. Capital
$ The (man made) property used to produce other goods and services
- Tools
- Money
- Factory
- Hammer
- Trucks

4. Entrepreneurship $ The ability of individuals to start a New Business
- Small Business Owner
- CEO
- Businessman
- Self Employed

5. Land
$ Natural Resources
- Trees
- Water
- Oil
- Actual land

6. Labor $ The work that people do. - Teacher - Student - Factory Worker
-Doctor
- Lawyer
- laborer
- Truck Driver

7. Questions?