Title: Factors of Production -- Video
Course: Recommended Resources for AP Micro from FRE > Section: Unit 3: Production, Cost, and the Perfect Competition Model

In economics, factors of production are the resources that people use to produce goods and services; they are the building blocks of the economy. Economists divide factors of production into four categories: land, labor, capital and entrepreneurship.

This video explains the four factors of production, describes the payment each earns, and includes a short video quiz—game-show style.

Watch the video and then click "next" to take the quiz.