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Factors of Production - Coggle Diagram
Factors of Production
LAND- any natural resource
Includes farmland and real estate
Trees
Plants
Livestock
Wind
Sun
Water
Oil
LABOUR- Any human service (physical or intellectual)
Human Capital
Job training
Experiences
Conferences
Workshops
Education
CAPITAL -
Machinery and equipment
Factory
Computers
Furnishings
Books
Roads
Phone lines
ENTREPRENEURIAL ABILITY
Is able to recognize a profit opportunity.
Is able to organize the other factors of production
Is willing to accept risk.