Performance Objectives:
At the end of this lesson, you should be able to:
- Define production
- List the types of goods
- Explain the types of production
- Define factors of production
- List the factors of production
- Define land and list the characteristics of land
- Enumerate the contribution of land to the economic development of a country
- Define labour, state the types and importance of labour
- Define capital
- List the types and explain the characteristics of capital
- Define entrepreneur
- Identify the functions and importance of an entrepreneur
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