Business Fundamentals – Factors of Production

Questions to focus on for today’s lesson and activities:

  1. How do businesses meet the needs and wants of consumers?
  2. What are the different ways in which people start businesses to meet the needs and wants of consumers?
  3. How are markets, consumers and producers interdependent in the Canadian business environment?

(A) Meeting the Needs and Wants of Consumers- Factors of Production: Watch the following video on the Factors of Production and Read 1-6

(B) Starting a Business: Types of Business Ownership

Additional Practice and Review:

Read 2-2 from the textbook
Complete the following chart:  Types of Business Ownership

Additional Resources on business ownership:

Video 1
Video 2