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Economics > Factors of production > Flashcards

Factors of production Flashcards

unit 1.2.3

1
Q

What are the factors of production ?

A

capital
enterprise
land
labour

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2
Q

What is capital ?

A

financial = when you buy a producer
physical = what you buy in order to produce

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3
Q

What is enterprise ?

A

the people/items that bring an idea together

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4
Q

What is land ?

A

natural resources/location

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5
Q

What is labour ?

A

human effort

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Economics (12 decks)

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