Capital, land, and labor are the basic types of resources used by producers
Explanation:
In a capitalistic context, profit is the main motive and for achieving that there are some key ingredients i.e., land, labor and capital as they are the key components of any producer. When these are invested, production happens, which eventually leads to revenue and later profits.
But for gaining them these three components are very important. Scarcity is something which cannot be invested but rather has to be addressed and value is something which a producer delivers to the consumers through the products/services which in turn are made by utilizing land, labor and capital.
