Factors of Production (Resources)



Factors of Production (Resources)

There 4 factors of production, namely, land/raw materials, labor, capital and entrepreneurship.

Why is entrepreneurship considered a type of resource? Well, because an entrepreneur brings other 3 factors of production (land/raw materials, capital and labor) together to make production possible.

Why is money not considered a type of resource in economics? What is the difference between economic capital and financial capital?

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