The Factor Market

Question 1

land

Answer 1

anything provided by nature that helps in the production of wealth
rent

Question 2

labour

Answer 2

human activity directed toward the production of wealth

wages

Question 3

capital

Answer 3

anything man made that contributes to the production of wealth
interest

Question 4

enterprise

Answer 4

a person who combines the other factors of production, takes the initiative and risk in setting up a firm
profit/loss