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Factors of Production

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4 Factors of Production Labor Human physical and mental talent to the production process Natural Resources Items provided by mother nature Coal, oil, trees ... – PowerPoint PPT presentation

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Title: Factors of Production


1
Factors of Production
2
4 Factors of Production
  • Labor
  • Human physical and mental talent to the
    production process

3
  • Natural Resources
  • Items provided by mother nature
  • Coal, oil, trees, water

4
  • Capital
  • Cash, tools, equipment, machinery
  • Technology for production

5
  • Entrepreneur
  • Someone to put it all together
  • To take the risk
  • Most important factor of production
  • Creativity and personal drive to succeed
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