Factors of Production + returns
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Last updated 8:10 PM on 9/11/25
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8 Terms
1
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Land
Natural resources used to produce goods and services.
2
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Labour
Human resources used to produce goods and services.
3
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Capital
Man-made aids to speed up production. (e.g. machines / computers)
4
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Enterprise / Entrepreneurship
The willingness to take risks to obtain and organise the other factors of production.
5
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Return for Land
Rent
6
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Return for Labour
Wage
7
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Return for Capital
Interest
8
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Return for Enterprise
Profit
Note 
Flashcards (223)