Factors of Production: Lemonade Stand

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Factors of Production: Lemonade Stand

labour resources

If I expand my business enough, I may need to hire employees where contributes to the labour resources

Any friends or family that decide to help with the stand can also be considered

I am one of the labour resources as I will be running the stand with my entrepreneurial skills as well as putting in some labour to run it.

real capital resources and the money capital resources:

Capital resources include pitchers, juicers, spoons, strainers, the stand itself and etc... These are all needed for the business to properly function and perform as intended

Money is needed to open the stand and buy the equipment needed

entrepreneurial skills

Organiation

Adaptability

Leadership

Marketing

Time Management

land resources

Need resources that come from the land such as: lemons, sugar, water, and etc...

Need a plot of land to set up the stand