Economics

Wow! What a crazy week. (Not that I'm complaining, two extra hours in the morning helps get the dishes done! And I finally got my tree down on our day off.)

Today we continued with the four factors of production. Each student had to think of a product and list the four factors of production for that product. They also had to illustrate each one.

For example:
Product - Peanut Butter
Land - soil, peanut plant, water
Labor - farmer, truck driver, grocery store worker, factory worker
Capital - machine to pick the nuts, machine to crush the nuts, trucks, jars, building, money
Management - farm owner, factory owner, store owner