Factors of Production

Land- includes natural resources on the earth, ground, atmosphere and in the sea.

• Some resources are non-renewable such as oil.
• Some are renewable, such as water.
• Some are sustainable, this means that they can be economically exploited and will not run out. 
• Some are unsustainable because over time they will diminish and eventually run out.

Labour- the workforce of the economy. Workers have a unique skill set but they are also products of education and training. A worker's value is called their human capital.…