are all factors of production equally important 
depending on the context some factors of production might be more important than others for example a software company that relies primarily on the labor of skilled software engineers might see labor as its most valuable factor of production meanwhile a company that makes its money from building and renting out office space might see land and capital as its most valuable factors as the demands of a business change over time the relative importance of the factors of production will also change accordingly the bottom linethe factors of production land labor entrepreneurship and capital are necessary for businesses to create products and services to sell to consumers and earn a profit how companies manage their factors of production is critical to their success 