What do you need to start a business ....?Other than $$$$

Resources or Factors of Production LandAll naturally occurring resources (renewable & non renewable) which are available for economic use

LabourMental and physical

human input. Both the number of workers and their level of skills measure the labour resource

CapitalHuman made resources that can be used to create further G&S

EnterpriseRisk takers who have the ability to initiate and manage the process of combining land, labour and capital to make a profit.

FOP Cards

1. Each group will receive cards and headings2. Place all cards face down3. Place the headings face up4. Take turns to flip a card and place under correct

heading5. When your team has agreed – draw up a table

in your books to summarise6. Come up with your own example under each

heading

Teacher instructions

• Print off the following slides for each group• Cut up the different “headings” and “cards”• Shuffle and distribute

• For longevity – consider mounting each set onto a different colour cardboard and laminating

LAND

Sheep Water Palm Tree

Sun Grass Gold

Labour

Scientist Golfer Teacher

FarmerActorBus Driver

Capital

Computer Bridge Stapler

FactoryShedAeroplane

Enterprise

Janine Allis – Founder of Boost

Juice

Barbara De Corti – Founder of Enjo

Gordon Merchant – Founder of Billabong

Mark Zuckerberg – Founder of Facebook

Gerry Harvey – Founder of Harvey Norman

Richard Branson – founder of

Virgin