Natural resources utilized in the production process; land, crude oil,water,vegetation,mineral,ect.

The human resource in production; human mental and/or physical efforts exerted in the production of goods and services.

Good used to produce other goods in the production process machines, equipment, tools, the factory, ect.

the ability to combine land, labor and capital to produce goods and services; requires initative, risk taking and organizationional abilities. the preceding characteristics distinguish entrepreneuship from the other human resorce-labor

WHAT is to be produced and in what quantites.