Section outline

  • Learning Intentions: We are learning to (WALT)...

    • Develop understanding of the process of production 

    Success Criteria: I can

    • Identify and explain the four factors of production

    • Give examples of the four factors 


    Activities 

    Factors of Production

    The inputs in the production process can be divided into four categories called the factors of production. 



    In order for something to be considered a factor of production they must actually be used in the production of the actual good or service that is being produced. Consequently, a customer would not be a factor of production because they do not help to make the product.

    Task One:  

    Match the following terms and definitions. Copy them into your book.

    • Resources

    • Production process

    • Capital 

    • Labour

    • Land 

    • Entrepreneurship


    • Man made goods used in the production of goods and services

    • Occur in nature and are used in the production of goods and services

    • The steps involved in producing a good or a service.

    • The people responsible for organising all of the resources needed in production.

    • The inputs used in the production process.

    • The work of people in the production process.


    Task Two: Write the heading “A Hair Salon” at the top of your page.
    Sort the following into the four factors of production for a Hairdressing Salon:





    Task Three

    Use a whole page in your books to draw a flow diagram that shows the production process (INPUTS – PROCESS – OUTPUT) for ONE of the products below:

    • A CD for a music album (artist or group of your choice)

    • A ball dress

    • A product or service of your choice 

    Your diagram should begin with a list  of all the inputs used in production. Be sure to include, people, equipment and materials needed.

    The process should include at least 5 illustrated steps in production.