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2 Parents
1 Sibling
4 Dogs
Acuity Brands Lighting: Supplies my family with income. My father sells his time and effort (labor).
My father uses computers to develop software that the company later sells (capital).
My father is also the manager of his group and organizes the duties of his coworkers to maximize productivity (enterprise).
Natural land allows for there to be space for the building that he works in (land).
Sunny Beauty Supply: Supplies me with income. I sell my time and effort (labor).
My family and I go to various stores to purchase durable and non-durable goods. We buy goods from businesses and businesses sell goods. Examples of non-durables that we purchase are groceries and cleaning supplies (need). The durable goods that we purchase include cellphones, jewelry, and cars (wants).
One example of a service includes a Verizon employee persuading my family to buy the best phone (want). Another example of a service includes a store clerk showing me where the toilet paper is located in a store.
Example: Strawberries
* A strawberry field (land)
* Workers pick strawberries (labor)
* Machinery and buildings that allow to process the strawberries for production (capital).
Businesses Hire workers and sell goods to gain income. Portions of the revenue is taken out for taxes and given to the government. Portions are also taken out and given to employees. Businesses must also buy the goods from wholesalers to sell to consumers.