Wednesday, 8 October 2008

Today's lesson

Bibi was talking about `finite economics resources/factors of production of land, labour, capital, and enterprise`.
  1. Capital
  2. Land
  3. Labour
  4. Enterpreneurship

Capital is a form of physical resource covering anything that can be regarded as a man made aid for production.

Land is a natural resource. It includes a wide range of things such as mineral deposits like oil.

Labour is the human resource that is available in any economy.

Entrepreneurship is a very particular form of human capital.

I can't remember everything I'm writing about labour. Some day was that chimpanzees were working like labour.

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