There
are Four agents of Production:
-Land
-Labour
-Capital
-Entrepreneurship
-Land
-Labour
-Capital
-Entrepreneurship
Last
year a farmer's crop yielded $100 worth of produce.
To
generate that selling price, the farmer incurred $25 to rent the land,
$25 to pay for labor, and $25 for the use of equipment. The remaining
$25 compensates him for his effort as an entrepreneur.
Source:
http://www.allbusiness.com/