2.1 WHAT, HOW, AND FOR WHOM?
How Do We Produce?
Factors of production
The productive resources used to produce goods and services.
Factors of production are grouped into four categories: • Land (土地) • Labor (勞動) • Capital (資本) • Entrepreneurship (企業家精神)
Goods and services that are bought by individuals and used to provide personal enjoyment and contribute to a person’s standard of living. For example, movies and Laundromat services.
Exports 9%
Government 17%
2.1 WHAT, HOW, AND FOR WHOM?
Figure 2.1(b) shows the largest five items of services produced.
And the largest five items of goods produced.
Investment goods
Goods that are bought by businesses to increase their productive resources. For example, cranes and trucks.
2.1 WHAT, HOW, AND FOR WHOM?