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Factors of Production

Entrepreneurs and the Four Factors of Production

Capital: Own and Borrowed

Labour: Workers, Skills and Fair Employment

Natural Resources: Renewable and Non-Renewable

How Each Factor of Production Is Paid

Forms of Ownership

Five Forms of Business Ownership

Comparing the Forms of Ownership

Management

Levels of Management

The Four Functions of Management

Management Styles and Good Management

Module Quiz

The Four Factors

Paying for Natural Resources

Paying for Capital

Skilled Labour

Renewable Resources

Borrowed Capital

Partnership Liability

Private Company Name

Limited Liability

Management Function Control

Democratic Style

Key Terms: Factors of Production

Worked Example: Rewards in Maya's Bakery

Advantages and Disadvantages of Each Form

Practice: Choosing a Form of Ownership

Key Terms: Management

Worked Examples: Management in Action

Calculating Maya's Profit

Selling Shares to the Public

Reward for Entrepreneurship

Setting Long-Term Goals

Drawing Up Shift Rosters

Permissive Style

The Eight Business Functions

Learn the four factors of production, the five forms of business ownership and the levels, functions and styles of management, with a bakery as the running example.

Follow Maya as she starts a bakery. Learn the factors of production, the forms of business ownership and how a business is managed.

Entrepreneurship

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