Website Created By: Ms. Saucier
Overview
This website was created to provide a real world example of how companies utilize resources to create a product of service. Economist categorize the resources into four categories called factors of production. Please explore this website to learn the factors of production utilized to make Frito-Lays potato chips.
This website was created to provide a real world example of how companies utilize resources to create a product of service. Economist categorize the resources into four categories called factors of production. Please explore this website to learn the factors of production utilized to make Frito-Lays potato chips.
Factors of Production Definition
An economic term to describe the inputs that are used in the production of goods or services in the attempt to make an economic profit. The factors of production include land, labor, capital and entrepreneurship.
An economic term to describe the inputs that are used in the production of goods or services in the attempt to make an economic profit. The factors of production include land, labor, capital and entrepreneurship.