Tuesday, May 5, 2009

uhh IDK

ughh well i have to start with this damn work.. umm well i learned about the four factors of production that deal with marketing and other important things like natural resources, labor, capital, and management. a natural resource is materials provided by nature are important to production. Soil, water, mineral deposits, and forests are all examples of a nations resources. Human beings do not create them. labor includes all of the people employed in the workforce. Both the skills the workforce and the amount of labor help to determine the amount of production. capital is most people think of capital as money. to the economist, however, capital is any person-made means of production. tools, machines, and factories are examples of capital goods. capital used skillfully can greatly increase productivity. management refers to the people who organize and direct the other three factors. entrepreneurs, make up a large part of this resource. mangers assume the risk of operating a business. the need for good organization and management applies to both single person businesses and large corporations. umm thats what i learned. im my opinion i think these resources deal with the environment of the forest on earth and other locations that have plants or whatever. its pretty good to read and know whats going on with the resources.

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