Factors of

Production
Grade 8 Economics
01
Factors of
production and
their rewards
The Speechless
Stories
Share your story without using any words.
What did you do during your term
break?
Did you do any economic activities?

What are the economic activities?

Economic activities:
➢ Purchasing (Consuming)
➢ Selling
➢ Producing Lesson topic
➢ Distributing
➢ Working for money
What do you need to build a house?

➢ Location
➢ Materials
➢ Tools
➢ Workers
➢ Design
➢ Money
 Factors of production:
➢ Location
➢ Materials ● Land
➢ Tools ● Capital
➢ Money ● Labor
➢ Workers ● Enterprise
➢ Design
 Factors of production
Land, natural resources used in production, such as
arable land, water, minerals, and forests.
Capital, physical assets, financial resources, and
tools/machinery.
Labour, the physical and mental efforts exerted by
individuals, including skills, abilities, and health.
Enterprise, taking risks, innovation, and the ability to
organize and combine the factors of production to create
goods and services.
 Types of economic business

Goods: Services:
● free ● consumer good ● business
● merit ● inferior goods ● social
● harmful ● luxury goods ● personal
● complementary ● public goods
● substitute ● capital goods
 Capital Goods - Consumer Goods

Capital Goods - man-made products

used by a business to produce
consumer or other capital goods

Consumer Goods - products used by

consumers
Capital Goods - Consumer Goods
Capital Goods Consumer Goods
 Examples of Goods and
Services Business

Goods: Service:
● Manufacturing ● Maintenance
● Assembling ● Hospital
● Sales ● School
● Consulting
If you want to open a babi guling restaurant,
what would be your factors of production?
RECAP:
What are the factors of production?
02
Factors of
production and
their rewards
Let’s watch:

Which product is the most interesting?

Choose 1 product from the
video, then list down the
factors of production.
Group Discussion
Group 1: Group 4:
Sneakers factory Furniture workshop
Cleaning service Movie theaters

Group 2: Group 5:
Cellular shop Newspaper publisher
Legal advisor Beauty salon

Group 3: Group 6:
Cellular shop Jewellry Shop
Legal advisor Insurance agency
03
Factors of
production and
their rewards
Group discussion sharing
What is the nature of each
production factor?
LAND
● Limited availability
● Varies in quality, fertility, and
location
● A critical factor in economic
decision making
What is the nature of each
production factor?
LABOUR
● Skilled and unskilled
● Manual and intellectual
● Varies in productivity,
quantity, and availability
What is the nature of each
production factor?
CAPITAL
● Tangible assets; machinery
and equipment
● Wealth or financial strength of
an individual or company.
What is the nature of each
production factor?
ENTREPRENEURSHIP
● Identifying opportunities
● Making decisions
● Bearing the risks
04
Mobility of the
factors of
production
Factors of Production
Jeopardy
05
Mobility of the
factors of
production
06
Mobility of the
factors of
production
07
Quantity and
quality of the
factors of
production
08
Quantity and
quality of the
factors of
production
09
Quantity and
quality of the
factors of
production
10
Unit Review
11
Unit Test
12
Unit Test
Discussion
Contents of this template
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Table of contents

01 Our teaching
method 03 The school’s
teachers
You can describe the topic You can describe the topic
of the section here of the section here

02 Our academic
areas 04 Enrollment
process
You can describe the topic You can describe the topic
of the section here of the section here
Introduction
Mercury is the closest planet to the Sun
and the smallest one in the entire Solar
System. This planet's name has nothing
to do with the liquid metal, since
Mercury was named after the Roman
messenger god. Its temperatures aren't
as terribly hot as those on Venus
Mercury takes a little more than 58 days
to complete its rotation, so try to
imagine how long days must be there!
Since the temperatures are so extreme,
albeit not as extreme as on Venus,
Mercury has been deemed to be
non-habitable for humans
What sets us apart?

Mercury Venus Mars

Mercury is the closest Venus has a beautiful Despite being red, Mars is
planet to the Sun and the name and is the second actually a cold place. It’s
smallest one of them all planet from the Sun full of iron oxide dust
“This is a quote, words full of wisdom
that someone important said and that
can inspire the reader.”

—Someone Famous
 Our teaching method

Methods

Activities Goals Feedback Assessment

Mars is actually a Mercury is the Venus has a Jupiter is the

very cold place smallest planet beautiful name biggest planet
The curriculum
Introduction Features
Despite being red, Mars is actually a cold Venus 90%
place. It's full of iron oxide dust
Mars 60%

2XXX Mercury is very small Advantages

2XXX Saturn has several rings

Venus is a hot planet

25% 50% 75%
2XXX

2XXX Neptune is an ice giant

Pluto Ceres Earth
 Our academic areas

Mars Venus Neptune

Mars is actually a very Venus is the second Neptune is the farthest
cold place planet from the Sun planet from the Sun

Mercury Saturn Jupiter

Mercury is the closest Saturn is a gas giant Jupiter is the biggest
planet to the Sun with several rings planet of them all
 Our mission and vision
Mission
Mercury is the closest planet to
the Sun and the smallest one in
the Solar System—it’s only a bit
larger than the Moon
Vision
Venus has a beautiful name and
is the second planet from the
Sun. It’s hot and has a
poisonous atmosphere
Our values

Mars Neptune
Mars is actually a very Neptune is very far
cold place from the Sun

Jupiter Saturn
Jupiter is the biggest Saturn is a gas giant
planet of them all and has several rings
98,300,000
Big numbers catch your audience’s attention
Our success

25% 50% 75%

Mercury Venus Mars

Mercury is the closest Venus has a beautiful Despite being red, Mars is
planet to the Sun and the name and is the second actually a cold place. It’s
smallest one of them all planet from the Sun full of iron oxide dust
Awesome
words
A picture is worth a thousand words
A picture always
reinforces
the concept
Images reveal large amounts of data, so
remember: use an image instead of a long
text. Your audience will appreciate it
Statistics
Venus
Venus has a
beautiful name

Mercury
Mercury is the
smallest planet

Jupiter
Jupiter is the
biggest planet

Follow the link in the graph to modify its data and then paste the new one here. For more info, click here
This is a map
Venus
Venus is the second
planet from the Sun

Mercury
Mercury is the closest
planet to the Sun

Mars
Despite being red, Mars
is a very cold place
Mockups
You can replace the images on the
screen with your own work. Just
right-click on it and select
“Replace images”
Our teachers

Sofia Hill Kaliyah Harris

You can speak a bit about this You can speak a bit about this
person here person here
Our goals
Objectives Description
Mercury is the closest planet to the Sun
Academic success
Mars is actually a very cold place

Venus is the second planet from the Sun

Community
Jupiter is the biggest planet of them all

Saturn is composed of hydrogen and helium

Diversity
Neptune is the farthest planet from the Sun
Student progress

Mercury Venus
Mercury is the Venus is the second
1st term closest planet to the 3st term planet from the Sun
Sun

Saturn Mars
Saturn is a gas giant 2st term Jupiter is the
4st term
and has several rings biggest planet of
them all
Enrollment process
01 02
Venus is the second planet Despite being red, Mars is
from the Sun actually a cold place

03 04 05
Jupiter is the biggest planet Saturn is composed of Neptune is the farthest
of them all hydrogen and helium planet from the Sun
Special reminders
Do you know what helps you make your
point crystal clear?
Lists like this one:
● They’re simple
● You can organize your ideas clearly
● You’ll never forget to buy milk!
And the most important thing: the audience
won’t miss the point of your presentation
Thanks!
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