Aquinas College Economics Department

Economic Resources

Land | Labour | Capital | Enterprise

Aquinas College Economics Department

Land

Means the idea of land, and all the resources which are found on the planet. I.e. Natural resources

Fish, Air, Rocks, Minerals are all examples of land.

Reward: Rent

Aquinas College Economics Department

Labour

Means the workforce and potential workforce.Includes their ability to think, their skills and traits

Reward: Wages

Aquinas College Economics Department

Capital

Means the stock of goods that are used to make the goods or services demanded

Can include machinery, infrastructure, money required, and buildings

Reward: Interest

Aquinas College Economics Department

Enterprise

Means that ability of those entrepreneurs who have the drive to combine the other factors and take a risk to create a businessOften known as ‘catalysts for action’

Reward: Profit

Aquinas College Economics Department

Resources

Some resources are renewable such as the Sun or Wind or Sea and can be replaced over time fairly easily

However many resources are non renewable and will run out

Aquinas College Economics Department

AS Level Revision Site (ECON1, ECON2)• http://www.aquinaseconomicsas.co.uk

A2 Level Revision Site (ECON3, ECON4)• http://www.aquinaseconomicsa2.co.uk

Aquinas Economics on Twitter• http://www.twitter.com/aquinaseconomic

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