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This category therefore includes all machinery,
vehicles and office equipment used in the business. It also includes
the companies building.
Labour is the human resource used by business organisation during
production. It refers to the input of physical and mental activity of
the employee.
Land in the context of this classification is not only the site on
which the business is located, but also all the natural resources it
might use. So resources consumed by the business, such as coal, gas,
oil and water are classified as land.
Some economists would add enterprise to the list of factors of
production...
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