factors of production

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

• Entrepreneur

• Capital

Forests are examples of...

• Land

• Labor

• Entrepreneurs

• Capital

A bulldozer is an example of...

• Land

• Labor

• Entrepreneurs

• Capital

Iron, minerals, coal and plants are examples of which productive resource?

• land

• labor

• entrepreneurship

• capital

factory worker

• Natural

• Labor

• Capital

• ????????

factory worker

• Natural

• Labor

• Capital

• ????????

Which factor of production would you consider a lawn mower?

• Land

• Labor

• Capital

• Entrepreneur