![Economics 101: Factors of Production](https://i0.wp.com/sterlingterrell.net/wp-content/uploads/2016/12/1-22.jpg?fit=637%2C423&ssl=1)
[This is part of the series: The Complete Guide To Economics 101.]
What are factors of production in economics?
Factors Of Production are simply inputs that are used in a production process.
Any factors of production usually fall under the categories of land, labor, and capital.
For instance, the production process of making food at a restaurant might include the cook’s hours worked and raw material purchased.
While the production process of turning raw cotton into cotton lint, might include a gin plant, and the hours worked of gin employees.