Respuesta :
Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services. ... Land resources are the raw materials in the production process.
Four factors of Production: land, labor, capital, and entrepreneurship.
The factors of production:
The Factors of Production are the building blocks of the economy.
- Land provides natural resources like water, oil, copper, natural gas, coal, and forests. Without land the other three factors of production are obsolete.
- Labor is the effort that people contribute to the production of goods and services. Labor is important in production process because Land itself cannot contribute to utilize resources, hence Land and Labor are related.
- Capital is the machinery, tools and buildings use to produce goods and services. Capital is the backbone of production process because without capital production process could not start.
- Entrepreneurship combines the other factors of production - land, labor, and capital - to earn a profit. Without Entrepreneur the above three factors of production could not work in symbiosis.
Therefore, the four factors of production are interrelated.
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