Final answer:
Factors of production include labor, capital, and natural resources. Technology and entrepreneurs are vital for optimizing production processes.
Explanation:
Factors of production in an economy comprise labor, capital, and natural resources. Labor refers to human effort, capital includes produced goods like machinery, and natural resources are resources from nature for production.
Technology and entrepreneurs play key roles in utilizing an economy's factors of production, enhancing efficiency and innovation in production processes.
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