Advertisement
Published in:
2013 | OriginalPaper | Chapter
Introductory
Published in: Principles of Economics
Activate our intelligent search to find suitable subject content or patents.
Select sections of text to find matching patents with Artificial Intelligence. powered by
Select sections of text to find additional relevant content using AI-assisted search. powered by
The agents of production are commonly classed as Land, Labour and Capital. By Land is meant the material and the forces which Nature gives freely for man’s aid, in land and water, in air and light and heat. By Labour is meant the economic work of man, whether with the hand or the head.1 By Capital is meant all stored-up provision for the production of material goods, and for the attainment of those benefits which are commonly reckoned as part of income. It is the main stock of wealth regarded as an agent of production rather than as a direct source of gratification.