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    This document discusses the four main types of resources used in production: land, labor, capital, and entrepreneurship. Land provides the raw materials, labor is the manpower, capital consists of goods used to produce other goods and services, and entrepreneurship combines all the other resources by taking on the risk and coordination of production. An example given is a pharmaceutical company that uses these four resource types.

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    This document discusses the four main types of resources used in production: land, labor, capital, and entrepreneurship. Land provides the raw materials, labor is the manpower, capital consists of goods used to produce other goods and services, and entrepreneurship combines all the other resources by taking on the risk and coordination of production. An example given is a pharmaceutical company that uses these four resource types.

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    15 views10 pages

    Asasasda

    Uploaded by

    Business Club
    This document discusses the four main types of resources used in production: land, labor, capital, and entrepreneurship. Land provides the raw materials, labor is the manpower, capital consists of goods used to produce other goods and services, and entrepreneurship combines all the other resources by taking on the risk and coordination of production. An example given is a pharmaceutical company that uses these four resource types.

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    © All Rights Reserved
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    of 10

    Resources

    Production Process

    Inputs Outputs
    Types of Resources

    Land Labor

    Capital Entrepreneurship
    Land
    Land resources are the
    raw materials used in
    the production
    process.
    Labo
    r
    Labor resources are
    the manpower used in
    the production
    process.
    Capital
    Capital resources are
    goods produced and
    used to make other
    goods and services.
    Entrepreneurship
    Entrepreneurship is the ability
    to combine all the other
    resources.
    Pharmaceutic Company Example
    Thank You for Attention

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