factors of production Flashcards
1
Q
land
A
Raw materials, or natural resources from nature such as trees, forests, and oil
2
Q
labour
A
The manpower needed to produce products and services.
3
Q
capital
A
The financial investment, machines and equipment required to produce products and services.
4
Q
Enterprise
A
The people who come up with business ideas and take risks when putting the other factors of production together. They are known as entrepreneurs.
