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.

Teacher Resources: https://www.stlouisfed.org/education/...

Factors of Production - The Economic Lowdown Podcast Series:
https://www.stlouisfed.org/education/...

00:00 - Factors of Production
00:27 - Land
01:02 - Labor
01:43 - Capital
02:23 - Entrepreneurship

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