My Business

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Written by:

Paul S


Date added:

May 14, 2014








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3 / 807


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The main factors of production are capital, labor and land. Capital refers to any manufactures product used by the business to make other products. This category therefore includes all machinery, vehicles and office equipment used in the business. It also includes the companies building. Labor is the human resource used by business organization during production...
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It refers to the input of physical and mental activity of the employee. Land in the context of this classification is not only the site on which the business is located, but also all the natural resources it might use. So resources consumed by the business, such as coal, gas, oil and water is classified as land...
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