The economic theory of factors of production encompasses all of the resources and inputs that go into the manufacturing of products. Apart from direct inputs such as materials and labor, factors of ...

The factors of production are the inputs used to produce a good or service in order to produce income. Economists define four factors of production: land, labor, capital and entrepreneurship. These ...

You need resources to produce goods and services. Relative to the needs and wants of businesses and people, however, the economic resources to produce them are finite, and therefore subject to ...

Factors of production include land, labor, capital, and entrepreneurship. These factors interact to create goods and services in a capitalist economy. Understanding these factors helps identify ...