<P> In economics , factors of production , resources , or inputs are which is used in the production process to produce output -- that is , finished goods and services . The utilized amounts of the various inputs determine the quantity of output according to the relationship is called the production function . There are three basic resources or factors of production : land , labour and capital . The factors are also frequently labelled `` producer goods or services '' to distinguish them from the goods or services purchased by consumers , which are frequently labeled `` consumer goods '' . All three of these are required in combination at a time to produce a commodity . </P>
<P> In economics , factors of production , resources , or inputs are which is used in the production process to produce output -- that is , finished goods and services . The utilized amounts of the various inputs determine the quantity of output according to the relationship is called the production function . There are three basic resources or factors of production : land , labour and capital . The factors are also frequently labelled `` producer goods or services '' to distinguish them from the goods or services purchased by consumers , which are frequently labeled `` consumer goods '' . All three of these are required in combination at a time to produce a commodity . </P>
what are the three main factors of production
what are the three main factors of production
land labour capital
land labour capital