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