Factors of Production

Resources Required for Generation

4 Major Groups:

Land

Capital

Labor

Enterprise

LAND!

Many people were struggling to find a home. The living environment wasn't good and people couldn't find homes, afford one, or for some people to keep their homes. This also dealt with all natural resources!

CAPITAL

Region- Seat of government.

LABOR

People would die everyday from working conditions. The work was hard, the day was long, and there was very little pay!

ENTERPRISE

Brings all the previous resources together for production!

The 4 M's

All of these groups go into another group known as the 4 M's.

4M's:

Management

Machines

Materials

Money