Factors of Production Worksheet

1. What are Economic Wants and Needs?

Wants:_________________________________________________________________________

Needs:_________________________________________________________________________

2. What does ‘Economic Scarcity’ mean?

_________________________________________________________________________________

_________________________________________________________________________________

3. Complete the following table:

Factor of Production Reward Example

Land

Labour

Capital

Enterprise

Further Suggested Reading/Viewing:

Check out the Factors of Production Video made by Junior Cycle students at:
http://www.youtube.com/watch?v=Czay5uqDMFQ