Factors of production Flashcards
1
Q
What are the four factors of production
A
Capital
Enterprise
Land
Labour
2
Q
What is Capital
A
This includes man made resources and financial investments.
3
Q
What is enterprise
A
The business idea and the entrepreneur behind it
4
Q
What is land
A
This includes natural resources such as oil and water.
5
Q
What is labour
A
All human effort for example employees and managers
