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The total output of goods and services by a firm or industry in a given time period.

The resources in an economy that can be used to make goods and services, these are land, labour, capital and enterprise.

The natural resources of an economy such as farmland and mineral deposits.

The workforce of an economy, in terms of both their physical and mental effort.

Human made aids to production e.g Machinery.

When the factors of production are organised by an entrepreneur to make goods and services.