Land labor and capital as factors of production were

Land, labor, and capital as factors of production were originally
identified by the early political economists such as Adam Smith,
David Ricardo, and Karl Marx. Today, capital and labor remain the
two primary inputs for the productive processes and the generation
of profits by a business’ resources together to create value.

Land can take on various forms, from agricultural land to
commercial real estate to the resources available from a particular
piece of land. Natural resources, such as oil and gold, can be
extracted and refined for human consumption from the land.
Cultivation of crops on land by farmers increases its value and
utility.
Labor refers to the effort expended by an individual to bring a
product or service to the market. Again, it can take on various
forms. For example, the construction worker at a hotel site is part
of labor as is the waiter who serves guests or the receptionist who
enrolls them into the hotel.
In economics, capital typically refers to money. But money is not a
factor of production because it is not directly involved in producing
a good or service. Instead, it facilitates the processes used in
production by enabling entrepreneurs and company owners to
purchase capital goods or land or pay wages.
As a factor of production, capital refers to the purchase of goods
made with money in production. For example, a tractor purchased
for farming is capital. Along the same lines, desks and chairs used
in an office are also capital.
It is important to distinguish personal and private capital in factors
of production. A personal vehicle used to transport family is not
considered a capital good. But a commercial vehicle that is
expressly used for official purposes is considered a capital good.
During an economic contraction or when they suffer losses,
companies cut back on capital expenditure to ensure profits.
During periods of economic expansion, however, they invest in
new machinery and equipment to bring new products to market.
Entrepreneurship is the secret sauce that combines all the other
factors of production into a product or service for the consumer
market. An example of entrepreneurship is the evolution of social
media giant Facebook Inc. Mark Zuckerberg assumed the risk for
the success or failure of his social media network when he began
allocating time from his daily schedule towards that activity. At the
time that he coded the minimum viable product himself,
Zuckerberg’s labor was the only factor of production.

After Facebook became popular and spread across campuses,
Zuckerberg realized that he needed help to build the product and,
along with co-founder Eduardo Saverin, recruited additional
employees. He hired two people, an engineer (Dustin Moskovitz)
and a spokesperson (Chris Hughes), who both allocated hours to
the project, meaning that their invested time became a factor of
production. The continued popularity of the product meant that
Zuckerberg also had to scale technology and operations. He raised
venture capital money to rent office space, hire more employees,