Explain the factors of production or …

Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit. ... The factors of production typically include land, labor, capital, entrepreneurship, and the state of technological progress The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Production organization, or the organization of production, is at the heart of businesses involving the manufacturing process of goods. ... As the term suggests, production organization is simply the manner in which you organize the process of production of goods or services in your business.