MGTA01H3 Chapter Notes - Chapter 3: Industrial Revolution
14
MGTA01H3 Full Course Notes
Verified Note
14 documents
Document Summary
Factors required to create a business and produce goods and services. Farming and fishing are the oldest industries of this. The abundance of these resources is what brought the europeans to canada. Canada is the world"s 6th largest supplier of wheat and 2nd largest supply of oil. Busiesses whos activities are predominantly dependent on the production or use of natural resources are sometimes called resource incentive. If a farmer wants to double his crop the most logical way is to buy more land. Labour includes anyone and everybody who contributes their efforts to the business. A business that requires or is dependant on many workers is known to be labour intensive. Defined as money or machine and technologies that money can buy. Farmers would also needs tools like tractors. All businesses require a form of technology or machines to exists (can even include small things like pens and laptops)
