G9 The Factors of Production Review and Chain and Production

• Business Studies
• Secondary Education

The Chain of Production 

Wednesday, 25th of September 2024

What are the four factors of production?

1. land, labour, capital and enterprise
2. land, place, enterprise and capital
3. labour, capital, lean and enterprise

Which factor means the idea for the business?

1. land
2. capital
3. labour
4. enterprise

We have unlimited wants but not enough resources. What is this key term?

1. labour
2. trade-off
3. economic problem
4. sustainability

Case Study: Sara had a good idea for a business. She started to make re-useable water bottles for students. The students can put their name and a design on the bottles. Soon, Sara has so many orders that she can’t make all the bottles she needs. She also doesn’t have enough space to keep them in her bedroom. 

Which two factors of production does Sara have a problem with? 

Sara had a good idea for a business. She started to make re-useable water bottles for students. The students can put their name and a design on the bottles. Soon, Sara has so many orders that she can’t make all the bottles she needs. She also doesn’t have enough space to keep them in her bedroom.
Which two factors does Sara have a problem with?

1. land
2. labour
3. capital
4. enterprise

How should Sara solve the problems with the factors of production?

I mastered today's lesson!

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