Factors of production

Description

The four factors and their definitions
Abie
Flashcards by Abie, updated more than 1 year ago
Abie
Created by Abie almost 9 years ago
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Resource summary

Question Answer
Land The land, sea, and everything they contain
Labour The human workforce used in production
Capital Man-made, physical resources used in production
Enterpreneurship Efforts made to organize the other three factors of production as well as the ability to take risks in providing new goods and services.
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