4 Factors of Production
What are the 4 Factors of Production?
LABOR is the second factor that is apart of the four factors of production. Labor is the act of turning raw and natural materials into goods that people can buy.
CAPITOL is the third part. Capitol has two meanings. One meaning is that capitol is used for companies but land and other goods.
ENTREPRENEURSHIP is the last component of the four factors. Its a part of these factors because you can do it and not receive any consumer goods from it.
This is ware i fount my info:
"Economic Definition of the Four Factors of Production." Small Business. N.p., n.d. Web. 10 Dec. 2015.