Four Factors of Production in Economics

Front

What are the 4 factors of production?

Back

Land, Labor, Capital, Entrepreneurs

Front

WHAT IS LABOR?

Back

work people do for pay to produce good and services

Front

What is known as the natural resources used to produce goods and services?

Back

Land

Front

What is known as the manmade resources used to produce goods and services?

Back

Capital

Front

An entrepreneur is a person who...

Back

uses land, labor, and capital to produce goods and services.

Front

Which of the factors of production is this? Options: capital, entrepreneur, land, labor

Back

labor

Front

Which one of the factors of production is this? Options: capital, entrepreneur, land, labor

Back

capital

Front

What is another name for someone who starts a business?

Back

entrepreneur

Front

Which factor of production is this? Options: capital, entrepreneur, land, labor

Back

land

Front

This factor involves money, equipment, and tools and any items to produce goods and services?

Back

capital