Factors of production
Factors of production
Factors of production are the scarce economic resources used to produce goods and services. Economists classify them as land, labour, capital and enterprise.
Step-by-step lessons covering AQA A Level Economics 1.1.3 Economic resources for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.