3rd Quarter Social Studies reviewer pt1

The natural factor of production

This is the process of using resources to produce goods and services that satisfy the needs of individuals and business.

It is produced by using the factor of production.

Give the four factors of production (ex. ? ? ? ?) contain spaces

Payment for the use of land and other natural resources received by the landlords

Used to produce other goods

Tools and machinery used to produce goods and services

Goods sold directly to the public

The Starbucks workers are examples of… (a factor of production)

Machinery is an example of an input or an output?

Answer explanation

Machinery refers to the collection of machines that operate together in order to accomplish a single task. A machine is an appliance that is used to manufacture something in order to fulfill the orders.