- You have learned about the factors of production or the resources needed to produce goods and services. List all the major resources that the Strauss brothers needed to make jeans.
- All resources fall under 1 of 4 categories. Land: Natural Resources to make a product. Labor: Workers. Capital: includes tools, buildings, and equipment. Entrepreneurship: the ability to combine the other 3 resources to make or improve a product or service. List each resource as Land, Labor or Capital.
- Did the Strauss brothers possess entrepreneurship? Explain.
1. The major resource was canvas.
2. Land:Canvas, labor: sewers, cutters capital: scissors, needles, sewing machines , snaps.
3. Yes they did because they started with a small idea then they made it into a billion dollar company. Their company still exists. He had a simple idea. The main thing was that he was able to adjust to a new product.
yes i think i agree
ReplyDelete