Factors Of Production

Factors Of Production

1. Land

   • Natural Resources
     • Forests
     • Oil
     • Gas
     • Fields
     • Metals
     • Other Mineral Resources

2. Labour

   • Number of people available
     • For making products

3. Capital

   • Needs for the manufacture of Goods
     • Machinery
     • Finance
     • Equipment

4. Enterprise

   • Skill and risk taking ability of a person that
     • brings the factors of production together
       • to produce goods
       • to produce Services
       • E.g. Owner Of a Business
         • 'Entrepreneur'