What key term is used to describe: natural resources, labor, capital, and entrepreneurs used to produce goods and services

Factors or Production

Explanation:

Natural resources, labor, capital, and entrepreneurship are all considered to be Factors of Production by economists. Factors of production, as the name implies, are simply the inputs that are used and transformed during a production process, in order to generate output.

Economists disagree over the exact number of Factors of production that there are. To some, land and natural resources are separate from capital, while to others, they are part of capital. And many disagree with the notion that entrepreneurship is a separate factor of production. For this reason, the most common classification of factors of production is bipartite: labor and capital.