---
title: Factors of Production
description: Factors of production are inputs that firms use to generate economic profit during the production of a good or service. These factors include land, labor, capital, entrepreneurship, and technology.
---

[Realized 1031 Glossary of Terms ](https://www.realized1031.com/glossary)

# [Factors of Production](https://www.realized1031.com/glossary/factors-of-production)

 Written by [The Realized Team](https://www.realized1031.com/glossary/author/the-realized-team) | Aug 4, 2019 12:00:00 PM

Factors of production are inputs that firms use to generate economic profit during the production of a good or service. These factors include land, labor, capital, entrepreneurship, and technology. 

Firms leverage these factors to generate economic profits by generating revenues from the sale of a good or service that exceeds the costs of producing or maintaining these factors.

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