In
economics,
factors of production,
resources, or
inputs are what is used in the production process to produce
output—that is, finished goods and services. The amounts of the various inputs used determine the quantity of output according to a relationship called the
production function. There are three
basic resources or factors of production:
land,
labour, and
capital. These factors are also frequently labeled "producer goods" to distinguish them from the goods or services purchased by consumers, which are frequently labeled "consumer goods." All three of these are required in combination at a time to produce a commodity.