business recourses Flashcards
what are natural recourses?
Natural resources are the naturally occurring inputs that are used in the production process.
This includes, land, water, timber, coal etc. Anything that is physical.
Labor factors
Labour resourcesrefer to the people that provide their skills, effort and knowledge to the business.
capital recourses?
A
Capital resources refer to the tools and machinery that are used to produce goods or perform services.
popcorn-labor, capital and natural examples
natural-
the land used to grow the crops
the seeding
petrol to operate machinery and trucks
Labor-
-famers labor to plant corn, harvest and work machines
-delivery drivers who take the popcorn to the supermarkets
-supermarket workers who unload the truck and stack the shelves
Capital
-machinery used to harvest the corn
trucks who transport the popcorn to supermarkets