Title: Explain how the factors of production affect a nation’s ability to trade.
Course: Opportunities in Global Trade (12056-I) > Section: Exploring the Realities and Fluctuations of the Global Economy

Explanation should include

- definition of natural resources, human resources, and capital resources
- definition of infrastructure
- examples for each factor of production
- commentary on how each evolves from conception to end-user in the global marketplace.

Explanation also should include the concept that the production of goods and services is a primary activity to satisfy the needs and wants of consumers.

Process/Skill Questions:

- What are the four factors of production?
- How can the infrastructure of a country be related to the factors of production?
- What are the three basic economic questions for global trade? How are the factors of production related to these economic questions?
- How has technology affected human resources in the global marketplace?
- How are the factors of production used when creating a good or service? How can this process be seen in the global marketplace?