Will give ! and 20pts what are the factors of production in business? land, labor, and capital land, capital, and interest land, labor, and customer base capital, customer base, and interest
Will give ! and 20pts what are the factors of production in business? land, labor, and capital land, capital, and interest land, labor, and customer base capital, customer base, and interest
Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. I know entreprenuership isn't on there, but i think you'll get the answer from the first three.
Explanation:
im pretty sure its land labor and capital
Land, labor, and capital
Explanation:
The factors of production are the resources that are used to produce goods and services.
By definition resources are scarce.
Land includes everything that comes from the land, that can be used as raw material to produce other materials; for instance, water, minerals, wood.
Labor is the work done by anybody, not just at a factory but at any enterpise that produce a good or a service. For instance, the work done by a person in a bank or a restaurant.
Capital is the facilites (buildings), machinery, equipments, tools that the persons use to produce goods or services. For instance, a computer, a chemical reactor, or a pencil.
Nowadays, also entrepreneurship is included as a factor of production, since it is the innovative skill of the entrepeneurs to combine land, labor and capital what permit the production of good and services.
It is land labor and capital.