Things which you can see and touch., Goods, Services, Goods which we use again and again, e.g., computer, car, smart phone, Non-Durable Goods, Durable Goods, Things we normally use only once, e.g., food, but we buy regularly, Non-Durable Goods, Durable Goods, Things which we pay to have done for us, Goods, Services, People who use a product or a service (may not be the buyer), Customer, Consumer, What are the Factors of Production?, Primary, Secondary & Tertiary, Land Labour, Capital & Enterprise, Private, Public & Third, PESTEC, All the natural resources used in production as well as the land itself., Land, Labour, Capital, Enterprise, The human resources used in the organisation., Land, Labour, Capital, Enterprise, All the man made resources owned by the business and finance invested in the business, Land, Labour, Capital, Enterprise, The ability of the owner or manager of a business to use the other factors of production - land, labour and capital - effectively., Land, Labour, Capital, Enterprise, The person who owns the Business and has provided the money to start it up and possibly expand it., Customer, Consumer, Buyer, Entrepreneur, Abilities which can be learned and developed, through practice or training., Skills, Qualities, Traits/characteristic which people are considered to be born with and cannot always be learned., Skills, Qualities, The three main sectors of industry in which a company can operate are, Primary, Secondary & Tertiary, Private, Public & Third, This industry involves businesses which extract natural goods from the earth., Primary, Secondary, Tertiary, These types of businesses are involved with making things (manufacture)., Primary, Secondary, Tertiary, These types of businesses do not produce goods but provide services., Primary, Secondary, Tertiary

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