Business Resources - CCEA

Business resources

Business resources are the resources required to produce goods and services.

There are four main business resources:

Capital – the money and equipment used to produce the product or service such as machinery or delivery trucks.

Enterprise – having an idea of how to use the land, labour and capital to make a profit.

Land - the natural resources used in the production of a product such as water, oil, fields or wood.

Labour – the people that work in the business such as teachers, joiners, builders or doctors.

Remember these by using the acronym CELL ie Capital, Enterprise, Land and Labour

Business resources example: The Gym

An entrepreneur who has identified a need for a new gym will require:

Capital - Equipment and money used to provide goods and services. A gym will need fitness equipment and money to pay staff.

Enterprise - The willingness to take risks, make decisions and organise resources. All of these will be needed to open the gym.

Land - Naturally occurring resources, such as land and water. A gym will need land for a physical building.

Labour - Human effort, skills and knowledge. A gym will need staff who can offer advice on health and fitness.

In the tap and find activity, click on the business resource you feel best fits the description for the tasks for a mash potato business.

Final check