Select ALL four categories of production factors listed in the note.

### Why this is right - **Natural resources** include land, water, and local climate. - **Labour** is the manual component of human effort in production. - **Capital** is described as produced means of production. - **Entrepreneurship or management** provides qualitative human effort in production. ### The concept The note separates production factors by the kind of resource or contribution they provide. Consumer demand matters to business decisions, but it is not listed as one of these four factors of production. ### The other options - **Consumer demand**: it affects what a firm may choose to produce, but it is not one of the four production factors listed. ### Terms - **Capital**: produced means of production, such as man-made inputs used to produce goods or services. ### Remember The four listed factors are resources, labor, capital, and entrepreneurial management.