Factors of production

 

 

 

Factors of production

 

Glossary of business

 

Definition of factors of production

 

The factors of production are the resources that are necessary for production. They are usually classified into 4 different groups: 1. Land - all natural resources (minerals and other raw materials) 2. Labour - all human resources 3. Capital - all man-made aids to production (machinery, equipment and so on) 4. Enterprise (or entrepreneurship) - the skill of managing resources and taking risks to produce goods and services.

 

Source : http://business-tes.wikispaces.com/file/view/Glossary.doc

link: http://business-tes.wikispaces.com/

Author : not indicated on the source document of the above text

 

Terminology about business

 

Job world

 

 

Definition and meaning of factors of production

 

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Meaning of factors of production

 

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What does factors of production mean ?

 

 

 

 

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