Factors of Production

Land includes

• the "gifts of nature" or natural resources not created by human effort

• the tools, equipment, and factories used in production of goods and services

• people with all their efforts and abilities

• individuals who start a new business or bring a product to market

Capital refers to

• the "gifts of nature" or natural resources not created by human effort

• people with all their efforts and abilities

• the tools, equipment, and factories used in production of goods and services

• individuals who start a new business or bring a product to market

Labor refers to

• people with all their efforts and abilities

• individuals who start a new business or bring a product to market

• the tools, equipment, and factories used in production of goods and services.

• the "gifts of nature" or natural resources not created by human effort

Entrepreneurs are

• people with all their efforts and abilities

• individuals who start a new business or bring a product to market

• the "gifts of nature" or natural resources not created by human effort

• the tools, equipment, and factories used in production of goods and services

A herd of cattle is an example of

• Land

• Labor

• Entrepreneurship

• Capital

Forests are examples of...

• Land

• Labor

• Entrepreneurship

• Capital

A bulldozer is an example of

• Land

• Labor

• Entrepreneurship

• Capital

Your garbage man is an example of

• Land

• Labor

• Entrepreneurship

• Capital

Your cafeteria cook is an example of

• Land

• Labor

• Entrepreneurship

• Capital

A steel factory is an example of

• Land

• Labor

• Entrepreneurship

• Capital