Factors of production

Question 1

Land?

Answer 1

• natural resources that a business uses

e. g a plot of land, coal, diamonds, wood, oil

Question 2

Labour?

Answer 2

• the workforce of a business

e. g human resources, employees

Question 3

Capital?

Answer 3

• the man made residues : the assets of a business

e. g money (finance), tools machinery and equipment

Question 4

Enterprise?

Answer 4

• Where the entrepreneur will use land, labour and capital to achieve a business idea.