CSEC Principles of Business  /  Production  /  Factors of production and Caribbean industries

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Factors of production and Caribbean industries

Every good or service is made with four factors of production: land, labour, capital and enterprise. The purpose of production is to satisfy people’s wants. Paper 1 asks which factor earns interest and what “human resources” means almost every year.

By the end of this page you can

  • Name the four factors of production and the reward each earns
  • Give an example of each factor from a real business
  • Link Caribbean industries to the natural resources they use
  • Say what affects the supply of labour

Goals tick themselves off as you try the activities below.

Fishing boats moored beside a long wooden jetty in Grenada, with a truck waiting at the end and calm blue sea beyond.

Photo: Leslie Stone, Public domain, via Wikimedia Commons. Cropped, boat registration numbers blurred, resized, JPEG q72.

All four factors at once: the sea, the fishers, the boats and the owner who takes the risk.

How often it shows up in past papers

All papers20 of 23 papers
Last 55 of 5 · 2023–2026

Paper 1 counts come from our past-paper bank of CSEC Principles of Business Paper 1s. The last-5 row shows how often it came up in the five most recent papers.

Inside this topic

  1. The four factorsLocked
  2. Caribbean industriesLocked
  3. Key termsLocked
  4. Test yourselfmarkedLocked
  5. Practise for real · 28 past questionsLocked