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THE FACTORS OF PRODUCTION

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Mind Map on THE FACTORS OF PRODUCTION, created by MATTEO TREZZI LARRAURI on 01/02/2021.
MATTEO TREZZI LARRAURI
Mind Map by MATTEO TREZZI LARRAURI, updated more than 1 year ago
MATTEO TREZZI LARRAURI
Created by MATTEO TREZZI LARRAURI over 5 years ago
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Resource summary

THE FACTORS OF PRODUCTION
  1. LAND
    1. NATURAL RISOURCES WE GET FROM NATURE
      1. WATER
        1. AIR
          1. PLANTS
            1. MINERALS
              1. ANIMALS
            2. LABOUR
              1. WORK BY THE POPLE NEED FOR THE PRODUCTION OF GOODS AND SERVICES
                1. THE INCOME EARNED BY LABOUR RESOURCES IS CALLED WAGES

                  Annotations:

                  • INCOME: Money that is earned
                  1. THE ENTREPENEURIS THE PERSON WHO COMES UP WITH AN IDEA FOR A BUSINESSES AND BRINGS THE REST OF THE FACTORS OF PRODUCTION TOGETHER
                2. CAPITAL
                  1. THE MAN-MADE RESOURCES USED TO PRODUCE GOODS AND SERVICES
                    1. TECHNOLOGICAL CPITAL
                      1. THE TECHNOLOGICAL RESOURCES LIKE iNTERNET SITES OR SOFTWARE
                      2. FINANCIAL CAPITAL
                        1. THE MONEY INVESTED

                          Annotations:

                          • INVESTED: To put money into a businesses in hope of profits
                        2. CAPITAL GOODS
                          1. THE MACHINERY, COMPUTERS, TOOLS, FACTORIES, OR OFFICE BUILDINGS

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