Complete the missing Factors of Production - Leaving Cert Business - Question 6 - 2012

The complete list of Factors of Production includes:

1. Land: Refers to natural resources that are used in the production of goods and services. It encompasses everything from farmland to minerals.

2. Labour: This is the human effort used in the production of goods and services, which is absolutely necessary for any economic activity.

3. Capital: Capital includes the man-made resources used in the production process, such as machinery, buildings, and tools.

4. Enterprise: This factor involves the entrepreneurial ability to combine the other factors of production to create goods and services.