KK5 Business Resources

Question 1

3 Types of resources

Answer 1

1. Natural
2. Labour
3. Capital

Question 2

What are natural resources?

Answer 2

Items used by the businss that come from the natural environement

Question 3

What are factors to consider when using natural resources?

Answer 3

1. is it environmentally friendly, how to minimise negative affects?
2. How to reduce wastage?
3. Are the raw materials sustainble, accessible and reasonable priced?
4. Where do you source the natural resource?

Question 4

What are Labour Resource

Answer 4

The people that provides their skills, effort and knowledge to the business

Question 5

Factors to consider when planning labour

Answer 5

1. Quantity of workers
2. Qualitiy of workers
3. Where to get workers
4. Pay and work conditions
5. Legal responsibilities
6. How to resolve disputes
7. Location of business for which workers

Question 6

What are Capital Resource

Answer 6

Tools and machinery that are used to produce goods and services

Question 7

Factors to consider when planning capital resources

Answer 7

What kind of tools needed?
How to repair and maintain?
Does it require skill or a certificate to operate it?