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Factors of Production

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Chapter 18.1

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
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