Four Factors of Production

Land - all natural resources that are used to produce goods and services.
Labor - any efforta person devotes to a task for which that person is paid. The Four Factors of Production
Capital Physical Capital - any human-made resource that is used to create other goods and services. Human Capital - any skills or knowledge gained by a worker through education and experience.
Entrepreneurship - ambitious leaders that combine the other factors of production to create goods and services.