Factors of Production and Economic Problem

HideShow resource information

Factors of production

Factor of production = the resource inputs that are avaliable in an economy for the production of goods and services.

Land = natural resources in an economy.

Labour = the quality and quantity of human resources.

Capital = man-made aids to production.

Entrepreneurship = the willingness…

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all The reasons for individuals, organisations and societies having to make choices resources »