The Four Factors of Production
Grade 11th Grade · Social Studies · 45 min
What's Included
Learning Objective
I can define and explain the four factors of production: land, labor, capital, and entrepreneurship.
Warm-Up Video
Khan Academy · 6:14
Four factors of production | AP Microeconomics | Khan Academy
Guided Notes
3 key concepts
- 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.
Practice Questions
9 questions · Multiple choice & Short answer
Exit Ticket
Quick comprehension check
“Explain each of the four factors of production using your own words. Give an example of each.”
Complete Lesson Package
Get all 3 ready-to-use resources:
