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1.1.2 Factors of production and opportunity cost
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The four factors of production

The four factors of production

Four labelled boxes showing land, labour, capital and enterprise as the four factors of production

Factors of production are the four resources a business needs to produce goods or services: land, labour, capital and enterprise. All four may be needed at the same time, because equipment cannot produce anything without people and organisation.

1.1.2 Factors of production and opportunity cost Lesson

  1. GCSE
  2. /Business
  3. /1.1.2 Factors of production and opportunity cost

Step-by-step lessons on AQA GCSE Business 1.1.2 Factors of production and opportunity cost. Each one builds up to exam-style questions. Start by mastering business terminology and the functional areas (marketing, finance, operations, HR) before moving on to the extended, evaluation-heavy questions that carry the most marks.

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