The Four Factors of Production
11th Grade · Social Studies · 45 min
Lesson Preview
Learning Objective
I can define and explain the four factors of production: land, labor, capital, and entrepreneurship.
- 1
The four factors of production are land, labor, capital, and entrepreneurship.
- 2
In economics, capital refers to something produced to produce other things, such as tools or buildings, and does not include financial assets.
- 3
Entrepreneurship involves combining land, labor, and capital to produce goods, and is sometimes referred to as technology or know-how.
