The economic resources

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Resources in an Economy

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The economic resources

  1. 1. Aquinas College Economics Department Economic Resources Land | Labour | Capital | Enterprise
  2. 2. Aquinas College Economics Department Land Means the idea of land, and all the resources which are found on the planet. I.e. Natural resources Fish, Air, Rocks, Minerals are all examples of land. Reward: Rent
  3. 3. Aquinas College Economics Department Labour Means the workforce and potential workforce. Includes their ability to think, their skills and traits Reward: Wages
  4. 4. Aquinas College Economics Department Capital Means the stock of goods that are used to make the goods or services demanded Can include machinery, infrastructure, money required, and buildings Reward: Interest
  5. 5. Aquinas College Economics Department Enterprise Means that ability of those entrepreneurs who have the drive to combine the other factors and take a risk to create a business Often known as ‘catalysts for action’ Reward: Profit
  6. 6. Aquinas College Economics Department Resources Some resources are renewable such as the Sun or Wind or Sea and can be replaced over time fairly easily However many resources are non renewable and will run out
  7. 7. Aquinas College Economics Department AS Level Revision Site (ECON1, ECON2) • http://www.aquinaseconomicsas.co.uk A2 Level Revision Site (ECON3, ECON4) • http://www.aquinaseconomicsa2.co.uk Aquinas Economics on Twitter • http://www.twitter.com/aquinaseconomic Useful Links

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