AS Economic resources

1,249 views

Published on

Published in: Technology, Economy & Finance
1 Comment
0 Likes
Statistics
Notes
  • Be the first to like this

No Downloads
Views
Total views
1,249
On SlideShare
0
From Embeds
0
Number of Embeds
8
Actions
Shares
0
Downloads
26
Comments
1
Likes
0
Embeds 0
No embeds

No notes for slide

AS Economic resources

  1. 1. AS Economics Economic Resources
  2. 2. Scarce or not so scarce?
  3. 3. Objectives • Revise the idea of resources • Know what a factor of production is • Be able to explain the different factors of production and their rewards
  4. 4. Factors of production • The different resources available to produce goods and services in an economy • Can be tangible or non-tangible
  5. 5. List everything that went into making:
  6. 6. Land • Land is the natural resources on the planet. • It includes space on the ground, hills, seas, oceans, air etc
  7. 7. Labour • Labour is the human input (workers, managers etc) into the production process. • Each individual has a different level of skills, qualities and qualifications.
  8. 8. Capital • Man made physical goods used to produce other goods and services. • Examples include machines, computers, tools, factories, roads etc.
  9. 9. Enterprise • The entrepreneur provides the initial ideas. • They risk their own resources in business ventures. They also organise the other 3 factors of production.
  10. 10. Factors of production • Organise the different resources for your sweet into the factors of production on your sheet? • Write down what you think the reward of payment for each factor is
  11. 11. Land Labour Capital Enterprise
  12. 12. Objectives • Revise the idea of resources • Know what a factor of production is • Be able to explain the different factors of production and their rewards

×