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The four factors of production - Coggle Diagram
The four factors of production
LAND: NATURAL RESOURCES
SOIL FOR FARMING
FORESTRY (silvicoltura)
SEAS for fishing
MOUNTAINS for mining
LABOUR
Workers' physical and mental efforts
CAPITAL
MONEY invested in
PRODUCTION (Financial capital)
Capital goods
ENTERPRISE
Skills and risk-taking ability of people who set up a business
ENTREPREUNER
perceives MARKET OPPORTUNITIES
takes RISKS
provides a product or service
by investing CAPITAL
to buy LAND
MACHINERY
by hiring the WORKFORCE
