4 Factors Of Production - 4 Factors of Production Jordan...

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4Factors of ProductionJordan Petrin
LandAnything drawn from nature for use in the production of goods or services.
LaborThe time and effort people contribute to the production process.
CapitalPHYSICAL CAPITALAny long lasting goodthat is used to make other goods or services.HUMAN CAPITALSkills or knowledge of workers.
Entrepreneurship Willingness of people to organize, operate, and assume the risks involved with business ventures.
TechnologyAdvance in knowledge leading to new and improved goods and services, and ways of producing them.
ConverseLANDConverse has world headquarters located in Boston on ¾ of an acre of land as well as factories located in China, Taiwan, India, Thailand, Pakistan, Vietnam and Malaysia as of 2014LABORConverse has many people under their employ to do anything and everything from running machines to make shoes to sales associates and cleaning services for the building
Converse (Cont.)CAPITALPhysical- Plastic, felt, laces, products used to make shoes.

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