Factors of Production - Tesla

Phase 4 - Entrepreneurs

Elon Musk the CEO of Tesla has largely impacted the ideas of the company along with other engineers. With the help from Elon and other engineers Tesla has created one of the most energy efficient and environment friendly vehicles on the market. Today there are many options on what type of Tesla to buy and the announcement of the new Cyber Truck has been advertised to be really handy and energy efficient for people needing to transport certain goods on the road.

Phase 3 - Distribution

Land - Fuel is necessary to transport the vehicles to and from locations to be given to the dealership.

Labor - The people that dedicate time to transport the vehicles to and from locations is a form of labor. Labor is also represented at the

dealership because there are salesmen that try to sell consumers the product.

Capital - An example of human capital would be the need for people to transport the cars to and from locations. An example of physical capital would be the trucks that are used to transport the cars.

Factors of Production

Phase 1 - Production

Land - natural resources that are used to make goods and services

Labor - the effort people devote to a task for which they are paid

Capital - any human-made resource that is used to create other goods or services

Entrepreneur - ambitious leader who combines land, labor, and capital to create and market new goods or services

Land - materials that go into Tesla batteries are lithium, cobalt, aluminum, and nickel. The cells of the batteries that go into the body of the car are made of a thin aluminum layer and plastic.

Labor - Engineers are constantly thinking of new ways to make the Tesla an energy efficient vehicle. There are also workers on the assembly line that contribute to assembling the Tesla.

Capital - An example of human capital would be the engineers thinking of ways to make the Tesla more energy efficient. An example of physical capital would be the people and machines that help assemble the Tesla.

Phase 2 - Packaging

Land - Since Tesla cars are either shipped or available for pickup there are not natural resources that go into packaging.

Labor - People move the cars to either a Truck or move it to a location for people to pick up the car.

Capital - An example of human capital would

be moving the cars to a location where people will be interested in buying a Tesla.

Background

Tesla, an electric car company, was founded in 2003 by a group of engineers. These engineers wanted to prove that people didn't need to compromise to use electric cars and that electric vehicles can be better at performance and represent a cleaner option to transportation. The first vehicle that was created was the Tesla Roadster in 2008 which then led to

the creation of the first premium sedan known as the Model S. In the later years a couple vehicles were created like the Model X, Model Y, Model 3, Tesla Semi, and the Cybertruck. Tesla has also made certain things to create an energy sustainable ecosystem like the Powerwall, Powerpack, and Solar Roof. Tesla plans to keep producing vehicles that are affordable and accessible to more and more people.

Factors of Production - Tesla

https://www.tesla.com/about

Aidan Forston