In economics, land is the resource that encompasses the natural resources used in production. In classical economics, the three factors of production are land, labor, and capital.
Economists traditionally divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Learn how each of these are defined in this video.
Economists traditionally divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Learn how each of these are defined in this video.
