Factors of Production: Lemonade Stand

Need a plot of land to set up the stand

Need resources that come from the land such as: lemons, sugar, water, and etc...

Time Management

Marketing

Leadership

Adaptability

Organiation

Money is needed to open the stand and buy the equipment needed

Capital resources include pitchers, juicers, spoons, strainers, the stand itself and etc... These are all needed for the business to properly function and perform as intended

I am one of the labour resources as I will be running the stand with my entrepreneurial skills as well as putting in some labour to run it.

Any friends or family that decide to help with the stand can also be considered

If I expand my business enough, I may need to hire employees where contributes to the labour resources