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What choices would you make?

What choices would you make?. Warm Up : Write today’s date & answer; How would Pizza Hut answer the Three Basic Questions?. Factors of Production : the resources used to produce all things. LAND : natural resources, not man- made

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What choices would you make?

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  1. What choices would you make? Warm Up: Write today’s date & answer; How would Pizza Hut answer the Three Basic Questions?

  2. Factors of Production: the resources used to produce all things • LAND: natural resources, not man- made • Make a list of ten examples of natural resources used in production; ex) sunlight & lumber

  3. Factors of Production LABOR: human efforts, abilities and/or skills; Make a list of ten labor positions used in production; ex, teacher & farmer

  4. Factors of Production CAPITAL: anything manmade that is used to produce other things; tools, equipment, factories, technology Financial Capital: the money used to buy capital goods used in production Make a list of ten capital goods used in production; ex) computer & hammer

  5. Factors of Production ENTREPRENEURS: risk-takers hoping to achieve a profit and organize the factors from either inventing a product or starting a business Make a list of ten real life entrepreneurs; either living or passed on, ex) Bill Gates & Dave Thomas

  6. ALL THINGS HAVE L L COOL “E” NOT “J”!! What are the four Factors of Production? GIVE an Example. • Land • Labor • Capital • Entrepreneur

  7. Grouping Factors Can you categorize the four factors of production? Rearrange the pictures into their appropriate groupings and then illustrate at least 2 of EACH factor into your notebook.

  8. Top Ten Largest Land Mammals 10. Gorilla 9. Tiger 8. Camel 7. Bear 6. Moose 5. Buffalo 4. Giraffe 3. Rhinoceros 2. Hippopotamus 1. Elephant

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