1.1 Main economic groups and factors of production
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8 Terms
Consumer
A person or organisation that directly uses a good or service
Producer
A person, company or country that makes, grows or supplies goods and/or services
Government
A political authority that decides how a country is run and manages its operation.
Factors of Production
The resources in an economy that can be used to make goods and services (CELL)
Labour
The factor of production concerned with the workforce of an economy
Land
The factor of production concerned with the natural resources of an economy
Capital
The factor of production that relates to the human made aids to production.
Enterprise
The factor of production that takes a risk (the entrepreneur) in organising the other 3 factors of production.
Note 
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