Lemonade Stand

Mer som dette

Axe Mindmap

Ved Al-Obaidi Abduljabbar

How Honey Is Made

Ved Garg Kartikey

Jacksonian America

Ved Lillian Hoodes

factors of production

Ved Bryan Lu

Lemonade Stand- Factors of Production

Entrepreneurship

Skills- Resilience (ability to stand outside for long periods of time), Organization (maintain a hygienic stand)

Only require one level of management (seller overseas everything)

Low-risk endeavor (high potential earnings)

Recognized need for cold drinks on a hot day

Labour

Voluntary, Physical- one employee (me), no cost

Land

Raw materials- water, lemons, sugar

On personal/private land, therefore no cost

Capital Resources

Materials-table, plastic cups, paper sign

Machinery- ice trays, freezer, refrigerator,

Funding- depends on the quantity of lemonade planning to be sold