What choices would you make?

1
What choices would you make?

• Warm Up
• Write todays 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