<span title="Define:land,labour,capital">Define:land,labour,capita...</span> and enterprise.?

Question

Define:land,labour,capita... and enterprise.?

Answer 1

# Land or natural resource – naturally-occurring goods such as water, air, soil, minerals, flora and fauna that are used in the creation of products. The payment for land use and the received income of a land owner is rent.

# Labor – human effort used in production which also includes technical and marketing expertise. The payment for someone elses labor and all income received from ones own labor is wages.

# Capital stock – human-made goods (or means of production) which are used in the production of other goods. These include machinery, tools and buildings. The classical economists employed the word capital in reference to money (gold) also. Money however was not considered to be a factor of production in the sense of capital stock. The return to loaned money or to loaned stock was styled as interest while the return to the actual propietor of capital stock (tools, etc) was styled as profit.

Answer 2

Dear please attend the Class regularly.

Answer 3

Land is like the forests,minerals,fish,water

Labour is people that provide physical and interlectual skills

Capital is the goods needed to make the finished products for example:a pen or tractor

Enterprise is combing all the other factors of production to create a business

Answer 4

Sorry, but we&#039;re not going to do your work for you! However, let me point you in the right direction by offering this helpful hint.

Look at your text and find the section dealing with resources.