2. Factors of Production
Objective: The student will be able to explain how the four factors of production are used in satisfying wants and needs.
Sub-objective: The student will be able to identify the four factors of production.

3. IT MATTERS
Because the factors of production effect the products you use everyday.

4. The Factors of Production
The factors of production, or resources, are the building blocks of the economy; they are what people use to produce goods and services.
Economists divide the factors of production into four categories:

5. The Factors of Production
The factors of production, or resources, are the building blocks of the economy; they are what people use to produce goods and services.
Economists divide the factors of production into four categories:
Land

6. The Factors of Production
The factors of production, or resources, are the building blocks of the economy; they are what people use to produce goods and services.
Economists divide the factors of production into four categories:
Land
2. Labor

7. The Factors of Production
The factors of production, or resources, are the building blocks of the economy; they are what people use to produce goods and services.
Economists divide the factors of production into four categories:
Land
2. Labor
3. Capital

8. The Factors of Production
The factors of production, or resources, are the building blocks of the economy; they are what people use to produce goods and services.
Economists divide the factors of production into four categories:
Land
2. Labor
3. Capital
4. Entrepreneurship

9. The Factors of Production
While you listen, take notes in your note packet.

10. Group Activity: Factors of Production
Directions:
Cut out the boxes below on the dotted lines. Be careful not to lose any of the slips!
Organize the boxes based on what business you think the productive resource would be used in. Your choices are: Restaurant, Bank, School, and a Textile Factory.
Organize the boxes based on what factor of production each would fall under. Your choices are: Natural Resource, Labor, Capital, and Entrepreneurship.
On the poster paper, glue the boxes organized by business and factor of production.