the 4 Factors of Production

Today's Four terms are

• Capital
• Entrepreneurship
• Land
• labor

But first,
Factors of production is an economic term that describes the inputs that are used in the production of goods or services in order to make an economic profit.

Capital is
all of the tools and machinery used to produce a good or service.

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The Entrepreneur is
the individual who takes an idea and attempts to make an economic profit from it by combining all other factors of production

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Land is
all natural resources, such as timber and gold, used in the production of a good

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Labor is
all of the work that laborers and workers perform at all levels of an organization, except for the entrepreneur

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