1.2 Flashcards
defne land
includes all natural resources
what are the factors of production
land, labour, capital and enterprise
define capital
includes all man made resources
define labour
includes all human resources
define enterprise
brings all the other factors together to produce a good or service
define the term, mobility of factors of production
how easy or difficult it is for factors of production to be transferred to alternative industries
how do factors of production enable production of goods and services to be increased and allow economic growth
the economic resources can be increased in quantity
more labour
due to the increase in population or immigration
more land
for example, an increase in the natural resources available to an economy, such as the discovery of more oil
more capital
for example, due to a business purchasing more machinery and equipment
how can land be improved
land can be made more productive by using fertilisers to increase the output from farming land
how can education be improved
education and training improve the quality of labour and make it more productive
what is the meaning of geographical mobility
The ability of labour to move around an area, region or country in order to work
what is the meaning of occupational mobility
the ease with which a worker can leave one job for another in a different field.
how is the geographical mobility different to occupational mobility
Geographic mobility refers to a worker’s ability to work in a particular physical location, while occupational mobility refers to a worker’s ability to change job types
