Let's take a look at the factors of production as they relate to making strawberry milkshakes at a soda fountain. The table classifies the required resources into the
four factors of production.
Land
Labor
Capital
Entrepreneurship
the idea to start a soda fountain
specializing in strawberry
milkshakes
strawberries strawberry farmer
store
.
strawberry
fields
delivery person who brings
the strawberries to the
market
Juicer
water and
ice
person who makes the
milkshake
glasses and straws
skill of preparing a
unique strawberry
milkshake
milk