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Grade 4
Economics and Financial Literacy
Economic Principles
18. Production
18.1 Factors of Production
Master the Four Factors of Production
You will discover how natural resources, human resources, capital resources, and entrepreneurship work together to create everything around you.
What You'll Learn
You learn four essential factors needed for all production
You explore natural resources from earth, water, and air
You understand human resources provide skills and labor power
You discover entrepreneurship combines all factors together successfully
What You'll Practice
1
You identify different types of production factors in examples
2
You classify resources as natural, human, capital, or entrepreneurship
3
You explain how factors work together in business situations
Why This Matters
You need to understand factors of production because they explain how everything you use gets made and help you see your role in the economy.
This Unit Includes
Learning resources
Skills
Production
Natural Resources
Human Resources
Capital Resources
Entrepreneurship
GA Curriculum Aligned