Factors of Production
Land, Labor, Capital, and Entrepreneurship
-Land is the natural resources we have
-Labor is the work we the people put in
-Capital is the man-made things we have
-Entrepreneurship is the will to create your own business
Oil is one of the most valuable resources
The men and women who work day in and day out is labor
Human made things are a part of capital
To take something and starting it from nothing is an example of entrepreneurship