Oct 5, 2012 . There are four factors of production: land, labour, capital and entrepreneurship (also known as human enterprise or innovation).
This study note focuses on the main factors of production - i.e. inputs used in the . Capital goods are used to produce other consumer goods and services in the.
Definition of factors of production: Resources required for generation of goods or . all natural resources), Labor (including all human resources), Capital (inclu.
Jul 27, 2011 . Capital as factor of production includes all material resources (excluding land). Capital is used in all production except the most primitive form.
Aug 9, 2012 . The factors of production are resources that are the building blocks of . the factors of production into four categories: land, labor, capital, and.
Some of the important factors of production are: (i) Land (ii) Labour (iii) Capital (iv) Entrepreneur. Whatever is used in producing a commodity is called its inputs.
Capital has two economic definitions as a factor of production. Capital can represent the monetary resources companies use to purchase natural resources, land.
Four factors of production are as follows: 1. Land 2. Capital 3. Labour 4. Enterprise. This article explores the key characteristics of the factors of production, the.
Capital is that part of wealth which can be used for further production of wealth. Like land, capital is also an essential factor of production but there is difference.