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Factors of production - Coggle Diagram
Factors of production
Capital
To keep in mind: Money is not a resource
Anything thats manufactured in order to be used in the production of goods and services
Machinery and equipment
Factory itself
Computers
Furninshing
Books
Roads
Lines of communition
Enterprise
Entrepreneurial ability
Someone who recognizes a profit opportunity
Willing to take a risk on whether their business will be successful or not
Is able to organise their resources efficiently
Examples of entrepreneurs
Larry page/ Sergey Brin - Google
Jeff bezoz - Amazon
Steve jobs - Apple
Land
Any natural resource
Trees
Plants
Livestock
Real state
Sunlight
Water
Oil
Labour
Any human service
Physical
Intellectual
Human capital
Experience
Workshops
Job training
Education