business recourses Flashcards

1
Q

what are natural recourses?

A

Natural resources are the naturally occurring inputs that are used in the production process.
This includes, land, water, timber, coal etc. Anything that is physical.

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2
Q

Labor factors

A

Labour resourcesrefer to the people that provide their skills, effort and knowledge to the business.

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3
Q

capital recourses?

A

A
Capital resources refer to the tools and machinery that are used to ­produce goods or ­perform ­services.

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4
Q

popcorn-labor, capital and natural examples

A

natural-
the land used to grow the crops
the seeding
petrol to operate machinery and trucks
Labor-
-famers labor to plant corn, harvest and work machines
-delivery drivers who take the popcorn to the supermarkets
-supermarket workers who unload the truck and stack the shelves
Capital
-machinery used to harvest the corn
trucks who transport the popcorn to supermarkets

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