What are the examples of land labor and capital?

Answer 1

An example of land would be the fields that farmers use to grow goods on or the land the is used to make factories on top of to make other goods and services.

An example of labor would be a hard working teacher that is working really hard so her students can pass the finals easily. Or it can also be a doctor that is trying to cure a patient that other doctors said will die soon, or a patient that is extremely sick.

And finally, an example of a capital would be a factory, because a factory is used to produce other goods such as shoes, computers, etc. and also, a factory is human made.

Another fourth factor of production is Enterprise or Entrepreneurship. It is the person who brings together the other three factors of production. They are the business owners. An example is a shoe store owner. He created this business and opened his own store.