Factors of Production

Your page rank:

Total word count: 193
Pages: 1

Calculate the Price

- -
275 words
Looking for Expert Opinion?
Let us have a look at your work and suggest how to improve it!
Get a Consultant

Factors of Producton

The resources available to an economy, namely Land, Labour, Capital and Entrepreneur, for the production of goods and services.


The value, or satisfaction, that people derive from the goods and services they consume and thwe activities they pursue.


Human effort that can be applied to the production of goods and services.


The resources of nature that can be used for the production of goods and services.


A factor of production that have been produced for use in the production of other goods and services.


A person who, operating within the context of a market economy, seeks to earn profits by finding new ways to organize factors of production.


The knowledge that can be applied to the production of goods and services

Human Capital

The skills a worker has as a result of education, training, or experience that can be used in the production of goods and services

Finacial Capital

Includes money and other "paper" assets (such as stocks and bonds) that represent claims on future payments which can be used directly or indirectly to purchase factors of production or goods and services.

Share This

More flashcards like this

NCLEX 10000 Integumentary Disorders

When assessing a client with partial-thickness burns over 60% of the body, which finding should the nurse report immediately? a) ...

Read more


A client with amyotrophic lateral sclerosis (ALS) tells the nurse, "Sometimes I feel so frustrated. I can’t do anything without ...

Read more

NASM Flashcards

Which of the following is the process of getting oxygen from the environment to the tissues of the body? Diffusion ...

Read more

Unfinished tasks keep piling up?

Let us complete them for you. Quickly and professionally.

Check Price

Successful message