Running a lemonade stand involves various factors of production. Key resources include labour, where the entrepreneur and potentially hired employees contribute to operations. Real capital resources encompass the physical items necessary for the stand, such as pitchers and juicers, while money capital is essential for initial setup and ongoing expenses.
If I expand my business enough, I may need to hire employees where contributes to the labour resources
Any friends or family that decide to help with the stand can also be considered
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.
real capital resources and the money capital resources:
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
Money is needed to open the stand and buy the equipment needed
entrepreneurial skills
Organiation
Adaptability
Leadership
Marketing
Time Management
land resources
Need resources that come from the land such as: lemons, sugar, water, and etc...
