Factors of production is an economic term that defines the general inputs used for generating profitable goods and services. The factors of production consist of:
Land: the land itself and the raw materials of the land.
Labor: workers performing both physical and intellectual tasks to keep a company going.
Capital: refers to the buildings, equipment, and tools used in the manufacturing process, including social and intellectual capital.
Entrepreneurship: provides creativity and innovation in the use of certain factors that help to maintain a successful company.
