The agents of production are the key elements required to create goods and services—typically defined as land, labor, capital, and entrepreneurship. These components are fundamental in classical economics for analyzing how production is carried out and resources are allocated.
Capital refers to the financial assets or their financial value, as well as tangible factors of production used to create value. It is a significant part of the assets owned by an entity and is used to fund long-term operations and investments.
Factors of production are inputs used in the creation of goods and services in order to make an economic profit. They include land, labor, capital, and entrepreneurship.
