Economics Storyboard

Economics Storyboard

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Storyboard Text

  • Factors of Production
  • Physical Capital
  • Any materials found in nature that people use to make things or provide services
  • Resources used to make goods and services
  • Land
  • All natural resources used to produce goods and services 
  • Land (pt. 2)
  • The effect people devote to tasks for which they are paid $$$
  • Labor
  • Marginal Cost
  • Human-made objects used to create other goods and services
  • The extra cost of adding a unit. In this case, it is the cost of the bus.
  • Knowledge and skills gained through education and experience
  • Human Capital
  • People who decide how to combine resources to create new goods and services and provide for the needs and wants of consumers
  • Entrepreneurs
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