Land: Raw Materials that offer value in their natural state, Also known as natural resources, Wind, Sunlight, Cotton, Salt, Iron Ore, Water, Entrepreneurship: People who bear the personal risk to start a business, Steve Jobs ,  Vera Wang , Labor: physical, intellectual, and creative contributions of everyone who works within the economy, Working collaboratively to create new products, Education and Training is a motivator, Employees, Freight Loaders , Capital: Anything of value owned by the business that is used to produce the products and services, Machines, Tools such as saws, hammers, nails for a home builder, Technology , Factory, Merchandise, Coffee bean grinder for a coffee shop, Semi Truck Fleet,

Intro to Business Factors of Production Check for Understanding

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