business resources Flashcards
1
Q
what are the 4 resources?
A
land
labour
enterprise
capital
2
Q
labour resource?
A
refers to human inputs unto the production of goods/services
contributes by employees rewarded by salary.
labour can be both physical and mental
labour is the employees who manufacture goods or provide the service
3
Q
land resource?
A
includes the land in which the firm has its factory or offices on or where the resources come from ( oil coal and wood)
land is critical for cruticial for agriculture and is contributed by landlords and rewarded profits
4
Q
capital resource?
A
resources and assets owned by a business
including machinery and equipment required for a business to produce products and services pay labour or buy premisies
contributed by capitalists and rewarded by interest
