Airport Spending
Need a brush-up on the four factors of production?
VIDEO
INFOGRAPHIC
FACTOR
CHARACTERISTICS
EXAMPLES
Labor
Physical + Mental Input
Workforce
Land
Land + Extracted Resources
Farm + Crops
Capital
Fixed + Working Capital
Machinery
Entrepreneurship
Organization of Factors
Executives
Watch the video to learn what impacts the price of
the airport experience
Brainstorm the Factors of Production
Note: These are not always specifically mentioned in the video
LAND
CAPITAL
LABOR
ENTREPRENEURSHIP
1
4
2
3
Factors of Production (Examples)
LAND
CAPITAL
LABOR
ENTREPRENEURSHIP
1
4
2
3
DISCUSSION QUESTION #1
On average, travelers spend between $11 and $140 per airport visit. If you were traveling, where do you think you would fall in that range? Explain why.
DISCUSSION QUESTION #2
Summarize how the physical layout of an airport can lead to travelers spending more money.
DISCUSSION QUESTION #3
What are some strategies you could use to avoid being tempted to overspend while at the airport?
See you next time!
Great work! We look forward to discussing more about what impacts the price of the goods and services we buy in the next installment of So Expensive.
If you’re looking for more ways to tie the world of economics into your personal finance lessons, be sure to visit NGPF’s Econ Collection!