What choices would you make? Warm Up: Write today’s date & answer; How would Pizza Hut answer the...
-
Upload
damian-holmes -
Category
Documents
-
view
212 -
download
0
Transcript of What choices would you make? Warm Up: Write today’s date & answer; How would Pizza Hut answer the...
![Page 1: What choices would you make? Warm Up: Write today’s date & answer; How would Pizza Hut answer the Three Basic Questions?](https://reader036.fdocuments.us/reader036/viewer/2022083008/56649eb45503460f94bbc262/html5/thumbnails/1.jpg)
What choices would you make?
Warm Up:
Write today’s date & answer;
How would Pizza Hut answer the Three Basic Questions?
![Page 2: What choices would you make? Warm Up: Write today’s date & answer; How would Pizza Hut answer the Three Basic Questions?](https://reader036.fdocuments.us/reader036/viewer/2022083008/56649eb45503460f94bbc262/html5/thumbnails/2.jpg)
Factors of Production:
the resources used to produce all things
•LAND: natural resources, not man-made
•Make a list of ten examples of natural resources used in production; ex) sunlight & lumber
![Page 3: What choices would you make? Warm Up: Write today’s date & answer; How would Pizza Hut answer the Three Basic Questions?](https://reader036.fdocuments.us/reader036/viewer/2022083008/56649eb45503460f94bbc262/html5/thumbnails/3.jpg)
Factors of Production
LABOR: human efforts, abilities and/or skills;
Make a list of ten labor positions used in production;
ex, teacher & farmer
![Page 4: What choices would you make? Warm Up: Write today’s date & answer; How would Pizza Hut answer the Three Basic Questions?](https://reader036.fdocuments.us/reader036/viewer/2022083008/56649eb45503460f94bbc262/html5/thumbnails/4.jpg)
CAPITAL: anything manmade that is used to produce other things; tools, equipment, factories, technology
Financial Capital: the money used to buy capital goods used in production
Make a list of ten capital goods used in production; ex) computer & hammer
Factors of Production
![Page 5: What choices would you make? Warm Up: Write today’s date & answer; How would Pizza Hut answer the Three Basic Questions?](https://reader036.fdocuments.us/reader036/viewer/2022083008/56649eb45503460f94bbc262/html5/thumbnails/5.jpg)
ENTREPRENEURS: risk-takers hoping to achieve a profit and organize the factors from either inventing a product or starting a business
Make a list of ten real life entrepreneurs; either living or passed on, ex) Bill Gates & Dave Thomas
Factors of Production
![Page 6: What choices would you make? Warm Up: Write today’s date & answer; How would Pizza Hut answer the Three Basic Questions?](https://reader036.fdocuments.us/reader036/viewer/2022083008/56649eb45503460f94bbc262/html5/thumbnails/6.jpg)
ALL THINGS HAVE L L COOL “E” NOT “J”!!
What are the four Factors of Production? GIVE an Example.
• Land
• Labor
• Capital
• Entrepreneur
![Page 7: What choices would you make? Warm Up: Write today’s date & answer; How would Pizza Hut answer the Three Basic Questions?](https://reader036.fdocuments.us/reader036/viewer/2022083008/56649eb45503460f94bbc262/html5/thumbnails/7.jpg)
Grouping Factors
Can you categorize the four factors of production?
Rearrange the pictures into their appropriate groupings and then illustrate at least 2 of EACH factor into your notebook.
![Page 8: What choices would you make? Warm Up: Write today’s date & answer; How would Pizza Hut answer the Three Basic Questions?](https://reader036.fdocuments.us/reader036/viewer/2022083008/56649eb45503460f94bbc262/html5/thumbnails/8.jpg)
Top Ten10. Gorilla
9. Tiger8. Camel7. Bear
6. Moose5. Buffalo4. Giraffe
3. Rhinoceros2. Hippopotamus
1. Elephant