Consumers
Economists
Land
Labour
Rocks, metals and fossil fuels in the ground
Goods needed to make products and run businesses.
Goods
Human Capital.
Modern economies.
It is based on the principle of subsistence.
They can exchange one product for another.
The knowledge and skills of employees.
Specialisation, Money, International trade and Techonology or capital.
Physical capital.
Divide products into two types: goods and services.
They are physical things: houses, cars, clothes or food.
Traditional or subsistence economies.
Is the work that people in order to receive a wage or salary.
It´s a key factor for agriculture and building.
They represent examples of natural resources.