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Lettucebereal Lettucebereal
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Explain the different factors of production.
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Business in Action

Business in Action


Edition: 9th
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jcochran128jcochran128
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Natural resources are things that are useful in their natural state, such as land, forests, minerals, and water. Human resources are people and their individual talents and capacities. Capital includes money, computers, machines, tools, and buildings that a business needs in order to produce goods and services. Entrepreneurship is the spirit of innovation, the initiative, and the willingness to take the risks involved in creating and operating businesses. Knowledge is the collective intelligence of an organization.
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