| A | B |
|---|
| Factors of Production | land, labor, capital and entrepreneurship |
| Land | natural resources such as water soil trees and minerals |
| labor | workers talents training and skills |
| capital | buildings factories mecherie tools vecials equment |
| entrepreneurship | owners, organizers profit seekers top decishion makers investors |
| cost | what one gives up when decididing to do somthing refering to production a payment for prroductive resources |
| interdependence | when people firms or regions depend on each other for production or satisfaction of wants because of specilization or divison of labor |
| producer | a person or business using factors of production to produce goods or services |
| production | the act of using resources to make goods and services |
