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Java Games: Flashcards, matching, concentration, and word search. |
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Factors of Productions (Basics) and Production Process
Used with Basic Economic Terms
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| A | B |
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| Land | Natural resources, water, oil, minerals, trees |
| Labor | manpower |
| Capital | tools, machinery, factories, humans (used to produce products) |
| Entrepreneurship | investing time, natural resources, labor and capital |
| Human capital | brainpower, ideas or innovation |
| Capital Goods | used to make other products for retail sale or service |
| Consumer Goods | final products purchased by people and businesses |
| specialization | dividing up production so goods are produced efficiently |
| division of labor | different people perform different jobs (more efficient) |
| consumption | how much we buy/how we buy |
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Business Teacher |
West Point High School |
| West Point, VA |
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