Identify the factors of production and why they are 确定生产的因素以及为什么他们是.pptVIP

Standard 1Understand the fundamental concepts relevant to the development of a market economy SS.912.E.1.1Identify the factors of production and why they are necessary for the production of goods and services 3 “Classic” Factors: Land Labor Capital A More Comprehensive and Complete Listing: Land, with varying degrees of fertility Natural Resources Machines and other human-made physical resources Animal Resources Technology Human Resources, including skills, talent, and knowledge Why necessary? Resources are the inputs to the production process Without them, we couldn’t produce goods and