Productive Resources & Entrepreneurship

1. You have learned about the factors of production or the resources needed to produce goods and services. List all the major resources that the Strauss brothers needed to make jeans.

Land:  refers to natural resources that exist without human interventions

Labor:  work people do it's also called human resources

Capital: another factor is capital the manufactured good used to make other goods and produce other services

Entrepreneurship: refers to the ability of individuals to start new businesses introduce new products and processes and improve management techniques.  

2. All resources fall under 1 of 4 categories. Land: Natural Resources to make a product. Labor: Workers. Capital: includes tools, buildings, and equipment. Entrepreneurship: the ability to combine the other 3 resources to make or improve a product or service. List each resource as Land, Labor or Capital. 

  

You would need to find places where it wouldn't be more expensive to get what you want you will need to have to go somewhere local a place it wouldn't sell that much so that you can make a prof eft in Whatever product

.   3.Did the Strauss brothers possess entrepreneurship? Explain.

Yes because the main brother had other ideas and he wanted to sell but in the end he done something more useful that still sell a lot now in days he is an entrepreneurship he found a good idea that he can follow