Land Natural resources that are found in the earth. These resources can be renewable (Renewable resources) or non-renewable (Non-renewable resources). An example of a renewable resource would be trees. Trees will grow again and will/can replenish itself, making it a renewable resource. An example of a non-renewable resource would be metal ores and fuel such as coal. These resources do not grow back and reproduce, making it a limited resource.
Labour Human resource- any worker who contributes physically or mentally to a product or service is considered labour. Labour is divided by experience, education, skills etc.. These factors decides the pay and position of a worker.
Capital All the resources used to deliver a service or produce a good. For example, machinery, tools, money, investments are all part of the capital or a company.
Enterprise The management level of a company. The enterprise or entrepreneur is responsible for managing Land, Labour and Capital. They are not to be mixed with the labour group since they require additional skills.
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