business resources

Question 1

what are resources

Answer 1

the items needed for the business tom make goods and services as well as to function properly

Question 2

what are natural resources

Answer 2

Items used by the business that come from the natural environment, like land, water, timber, and fossil fuels, etc

Question 3

what are three factors that need to be considered when planning for a businesses natural resource needs

Answer 3

where will the business source natural resources form

are the materials sustainable

are the products environmentally friendly

Question 4

what are labour resources

Answer 4

The people that provide their skills, effort, and knowledge to the business to make goods and services, like employees, managers, sub-contractors, and the owner(s) themselves.

Question 5

what are factors to consider when planning a businesses labour resource needs

Answer 5

How many workers will be needed and what kind of skills will they need?
How will the business attract and retain these workers?

Question 6

what are capital resources

Answer 6

The tools, machinery, equipment, buildings, and vehicles that are used to produce goods or perform services.

Question 7

factors to consider when planning capital resource needs

Answer 7

What kind of tools and machinery will be needed?
How will the business repair, maintain, and replace its capital equipment when needed?