Factors of production
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5 Terms
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Limited resources are known as
Factors of production
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Land
Physical land and resources extracted
Examples Free gifts of nature: raw materials, the environment, the sea
Factor reward: Rent
3
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Labour
A nations workforce
Examples: The human resource: Office workers, factory workers, doctors
Factor reward: Wages
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Capital
Buildings, infrastructure and machinery
Examples: Man made resources: Buildings, machines, lorries, computers
Factor reward: Interest
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Enterprise
Entrepreneurial skills in society
Examples: Owners of a business: Take risks, organise production, make decisions
Factor reward: Profit
Note 
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