Question

Which elements are factors of production?

Answer 1

Answer - Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.

Answer 2

land,labor,and capital

Step-by-step explanation:

land: soil,water,plants and animals

labor: farmers tending crops, blacksmiths making tools, doctors treating patients, daycare workers watching children

capital: buildings such as grain silos and workshops, tools such as hammers,plows,and cooking utensils