The factors of production are the inputs used to produce a good or service in order to produce income. Economists define four factors of production: land, labor, capital and entrepreneurship. These ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Robert Kelly is managing director of XTS Energy LLC, and has more than three ...

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

In business, factors of production are those inputs that are essential in the creation of a good or service to meet a certain need in the market. Factors of production are more easily conceived in the ...