x

Economic resources and scarcity

Economic resources and scarcity

Flow diagram showing land, labour, capital and enterprise feeding into goods and services, with rent, wages, interest and profit labelled as rewards Output is the goods and services produced in an economy. To make that output, firms need economic resources such as natural materials, workers, equipment and organisation.

The factors of production Lesson

  1. GCSE
  2. /Economics
  3. /The factors of production