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Explain The Factors Of Production In The United States

1085 Words5 Pages

The four factors of production--land, labor, capital, and entrepreneur ability--are extremely important resources to the United States. Each factor is divided into all of the supplies the country needs to function and succeed.
Land
The first factor of production, land, includes the country’s territory and all the resources that come from it. The goods produced from the land are especially important to the country’s economy. Fortunately for the United States, they have an abundant amount of land that is used to improve the economy. The most common land resources made on United States territory are water, oil, copper, and natural gas. Out of all the supplies made in the country, coal, oil, bauxite, iron, copper, and nickel are produced most …show more content…

Depending on the work needed in the job, the capital is different. For example, factories use conveyor belts, doctors use stethoscopes, teachers use smart boards, and construction workers use forklifts. From observation, the United States has put in a lot of effort throughout the years in order to improve their capital. More factories have been made with the purpose of bettering tools and equipment. Foxconn coming to Wisconsin is a current example of capital expansion. By putting up the factory, more and more goods can be produced in a new area. The advancement of capital leads to more services, which in return boosts the country’s economy. China definitely sustains a growing capital so that the country can continue producing the most goods and services. A majority of the items I own are labeled “Made in China.” Because the country motivates the expansion of entrepreneurship rather than capital, the factory workers have produced machines that can do all the work for them more quickly and sufficiently (Prableen Bajpai 1). The machines can create tools and equipment for the advancement of the

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