Answer:
Land – this is raw materials available from mining, fishing, agriculture
Capital – This is a manufactured item used to aid production, for example, machines, factories and computers
Labour – Human workers who are involved in producing the good.
Entrepreneur – the individual or business who take the initiative to set up a business and employ different factors of production (labour, capital and entrepreneur)
Knowledge – human capital – the skills and ability of workers. For example, a doctor who spent 15 years studying medicine is more productive than non-skilled workers.
State of technology – some schools of economics consider the state of technological development to be a factor of production. It will influence the effectiveness of capital investment.
Social capital – the coherence of society. Is there trust and working legal systems which enable entrepreneurs to have greater faith in setting up a business
Cultural heritage – if there is a strong tradition of investment and business, it is easier to replicate past business models.
Explanation:
Land – raw materials
Oil
Coal
Fish
Agricultural produce – fruit, vegetables, meat
Commercial real estate – land to build factories
