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The 4 Types of Productive Resources

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by

Rachel Jeffords

on 26 March 2014

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Transcript of The 4 Types of Productive Resources

The 4 Types of Productive Resources
design by Dóri Sirály for Prezi
Natural (land)
-any natural resource used to produce goods and services

-not just land, but anything that comes from the land

-Some common land or natural resources are
water, oil, natural gas, coal, farms, timber, sunlight, and animals
.
Human (labor)
-The skills, knowledge, and labor that people bring to their jobs.

-Labor resources include the work done by the
waiter
who brings your food at a local restaurant as well as the
doctor
treating patients.

-More examples of human (labor) resources include:
Teachers, artists, pilots, cashiers, farmers
, etc.
Capital (capital goods)
-Capital is the machinery, tools and buildings humans use to produce goods and services.

-Capital differs based on the worker and the type of work being done. For example, a doctor may use a
stethoscope
to provide medical services. Your teacher may use
textbooks, desks
, and a
whiteboard
to produce education services.

-Some common examples of capital goods include
hammers, forklifts, conveyer belts, computers, and delivery vans
.
Entrepreneurship
(used to create goods and services)
-An entrepreneur is a person who combines the other factors of production – land, labor, and capital – to start and to run a business.

-Entrepreneurs build some of the largest firms in the world (
Sam Walton: Wal-Mart
) as well as some of the small businesses in your neighborhood (
David Tonroe- B&D Burgers
)

-More examples of entrepreneurs include:
Bill Gates (Microsoft), Walt Disney (Walt Disney Studios), Paula Deen (The Lady and Sons), Henry Ford (The Ford Motor Co.)
Name That Resource!
-Cow
-Pencil
-Factory
-Nurse
-Steve Jobs
Full transcript