Factor's of Production

Which would not be classified by economists as land

Limited supply available to meet unlimited wants

Grocery clerk

What knowledge, skills, education will your employees need to produce the product

Graphic artist

Wood

Conveyor belt

Security camera

Advertising, direct marketing, public relations

Truck driver

Using a field to grow cotton means the field cannot be used to grow soy beans

Bank President

Tractor

Shipping containers

Lettuce

What are the gifts of nature that make production possible

Business activities that involve money; paying wages, paying suppliers

Oil used for fertilizer

The process of interesting potential customers in your products and/or services.

Locations, distribution channels, transport

Sewing machine

Supervisor

The individual that brings together the economic resources necessary for production

Brand name, variety, quality, features, packaging, sizes

The money left over from selling a good or service after the cost of buying the materials

Security Officer

Air

The factor of production that includes any form of human effort exerted in production

The alternative you face if you decide to do one thing rather than another

Measure of the amount of output produced by a given amount of inputs

MRP, discounts, payment period

Wheat

Oven

The planning, organizing, leading, and controlling of human and other resources