Understanding Factors of Production

Front

Four main factors of production

Back

Land, Labour, Capital, Entrepreneurship

Front

Factor of production: Human effort and skills

Back

Labour

Front

Factor of production: Natural resources

Back

Land

Front

Role of entrepreneurship in production

Back

Identify & bear risk, organize factors

Front

Example of capital in production

Back

A factory building

Front

Technology's influence on production factors

Back

Enhances efficiency of labour and capital

Front

Factor of production affected by education and training

Back

Labour

Front

Capital in production

Back

Tools, machinery, and buildings

Front

Primary role of land in production

Back

Provide space for production activities

Front

Factor of production improved by technology

Back

Capital