Podcast
Questions and Answers
Four factors of production
Four factors of production
land
Four factors of production
Four factors of production
capital
Four factors of production
Four factors of production
labor
Four factors of production
Four factors of production
Flashcards
Land
Land
Natural resources or raw materials available for production.
Capital
Capital
Tools, equipment, factories, and money used in production.
Labor
Labor
Human effort, both physical and mental, used to create goods and services.
Entrepreneurship
Entrepreneurship
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Study Notes
Factors of Production
- There are four factors of production in an economy.
- These factors are essential for producing goods and services.
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