Factors of Production

1
Factors of Production
2
4 Factors of Production

• Labor
• Human physical and mental talent to the
  production process

3

• Natural Resources
• Items provided by mother nature
• Coal, oil, trees, water

4

• Capital
• Cash, tools, equipment, machinery
• Technology for production

5

• Entrepreneur
• Someone to put it all together
• To take the risk
• Most important factor of production
• Creativity and personal drive to succeed