The factors of production include land, labor, entrepreneurship, and capital. ... Get the Brainly App They are the inputs for the process of production. Factors which are used to carry out the process of production are called factors of production. Factors of production are the inputs needed for the creation of a good or service. The four factors of production are inputs used in various combinations for the production of goods and services to make an economic profit. study data and patterns. The factors of production include the number of. Factors of production are the inputs needed for the creation of a good or service. employees needed to manufacture a good producers who supply the same good. ; One of the most important factors of production was land. Entrepreneurship as a Factor of Production Entrepreneurship is the drive to develop an idea into a business. An entrepreneur combines the other three factors of production to add to supply. The most successful entrepreneurs are innovators who find new ways produce goods and services or who develop new goods and … The fourth factor of production is entrepreneurship. Factors of Production Definition. They are land and labour, as capital is created by the application of labour on land and an entrepreneur is the human resource who performs and controls the business. Anything that helps in production is the factor of production. The factors of production can be used as … To put it in different terms, the factors of production are the inputs needed for supply. This implies that the factors of production should be used in combination, so that the production target can be achieved. The factors of production include land, labor, entrepreneurship, and capital (investopedia.com).Factors of production is an economic term that we use to describe inputs in the production of economic goods (output). customers needed to make a profit on a good.   They are the starting point of the production process. The most successful are innovative risk-takers. 2 See answers Answer 3.0 /5 5 +6 Muxakara and 6 others learned from this answer Hello is an economic term that describes the inputs that are used in the production of goods or services in order to make an economic profit. What are factors of production? Factors of Production. consumers who show an interest in a good. Factors of production are the inputs needed for the creation of a good or service. ; Labour is the human worker who spends their mental and physical effort in getting income.They were also important in the factors of production. it is the source of all kinds of production. The production process of an organization can be efficient, if there is an optimal use of factors. In the Factor of production, the least likely labeled was Capital.. An entrepreneur is a person who combines the other factors of production - land, labor, and capital - to earn a profit. Entrepreneur A person who, operating within the context of a market economy, seeks to earn profits by finding new ways to organize factors of production. A factor of production that have been produced for use in the production of other goods and services. In the modern economy, economists classified these factors into two categories. Explanation: Factors of production are Land, Labour, Capital, and Entrepreneurship. The factors of production include land, labor, entrepreneurship, an … d capital (investopedia.com).Factors of production is an economic term that we use to describe inputs in the production of economic goods (output). The factors of production are land, labor, capital, and entrepreneurship. These are the various factors by mean any resource is transformed into a more useful commodity or service. Economists can use new technology to. Who supply the same good is a person who combines the other three factors of production that been! 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