4 Factors of Production Project. 4 Factors of Production The four factors of production are the...
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Transcript of 4 Factors of Production Project. 4 Factors of Production The four factors of production are the...
![Page 1: 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.](https://reader036.fdocuments.net/reader036/viewer/2022062500/56649f495503460f94c6b17a/html5/thumbnails/1.jpg)
4 Factors of Production Project
![Page 2: 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.](https://reader036.fdocuments.net/reader036/viewer/2022062500/56649f495503460f94c6b17a/html5/thumbnails/2.jpg)
4 Factors of Production
• The four factors of production are the ingredients or elements needed to make a product or provide a service.
![Page 3: 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.](https://reader036.fdocuments.net/reader036/viewer/2022062500/56649f495503460f94c6b17a/html5/thumbnails/3.jpg)
Entrepreneur
• Owner of a company; brings the natural resources, labor resources, and capital resources together to produce goods or services
• Examples: – Michael Dell (Dell Computers)– Ray Kroc (McDonald’s)
![Page 4: 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.](https://reader036.fdocuments.net/reader036/viewer/2022062500/56649f495503460f94c6b17a/html5/thumbnails/4.jpg)
Labor (Human) Resources
• All workers needed with the appropriate knowledge, skills, and experience to make goods or provide services.
• Examples: truck driver, seamstress, nurse, architect, advertising executive, artist
![Page 5: 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.](https://reader036.fdocuments.net/reader036/viewer/2022062500/56649f495503460f94c6b17a/html5/thumbnails/5.jpg)
Natural Resources
• Raw (natural) materials used to make goods• Examples: land, water, forests, minerals, soil
![Page 6: 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.](https://reader036.fdocuments.net/reader036/viewer/2022062500/56649f495503460f94c6b17a/html5/thumbnails/6.jpg)
Capital Resources
• Items used to manufacture, distribute, or provide products or services
• Examples: Machines, factory buildings, trucks, cars, tanning bed, supplies
![Page 7: 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.](https://reader036.fdocuments.net/reader036/viewer/2022062500/56649f495503460f94c6b17a/html5/thumbnails/7.jpg)
![Page 8: 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.](https://reader036.fdocuments.net/reader036/viewer/2022062500/56649f495503460f94c6b17a/html5/thumbnails/8.jpg)
![Page 9: 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.](https://reader036.fdocuments.net/reader036/viewer/2022062500/56649f495503460f94c6b17a/html5/thumbnails/9.jpg)
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