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matt four economic resourses

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matt leslie

on 30 April 2010

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Transcript of matt four economic resourses

Four Economic Resourses Land Capital Labour Entrepreneurship In economics terms, the word land means more then just property. It mean the resources of earth the raw materials of industry and business. Natural resurces incude soils, water, forests, animals, minerals, and energy sources. In economics, the word "Capital" mean investment money and all that it can buy. Capital includes not only money, but also such capital goods as transportation equipment . In Canada, capital resources come from both private and public investment. You can invest your own mone or offer investors a share of a company. Industrial contruction can cost many millions, sometimes requiring foreign investment. Canada has an abundance of different resources. Other regions must rely upon a more limited "land" factor. Some places, such as the netherlands, may overcome obstacles such as a lack of arable land, other places may struggle. Nepal, in south asia, is dominated by a mountain range the himalayas. Average incomes are living standards there are low. profits earned by outside investors often go back to their home countries, instead of being reinvested into the local economy. This can be a problem for developing countries, who may find that thier resources and labour are being used to profit companies from other countries. people are very important in the production of goods and services when their skills are combined with other economic resources. example, India has iron one and coal, the key land rresources need for steel production. India has become one of asia's major steel produce trucks, bicycles, an other items made of steel. The Ekati diamond mine, Northwest terrirories. Canada produces more than $1billion worth of diamonds each year , about 8 percent of the world's supply. An entreprenurship is like a captain who must unify a sports team in order to win . if entrepreneurship abilities are weak, the businness will fail The entrepreneur recognizes a business opportunity and is able to combine land, labour, and capital to make a profit. Entrepreneurship is found in Canada and nations with a similar economic system. In other countries, the government or a national or international corporation may make the business decisions.
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