The factor of production referred to as 'land' primarily consists of what?

The factor of production known as 'land' primarily includes natural resources. This encompasses all materials that come from nature and are used in the production of goods and services. Examples of these natural resources are minerals, forests, water, and agricultural land, which serve as the foundation for economic activities.

In the context of economic theory, land is viewed as one of the primary factors of production, alongside labor, capital, and entrepreneurship. It provides the essential inputs needed for creating goods and services. The distinction here is crucial, as 'land' in economics is not limited to physical plots of ground but extends to all unaltered natural assets that contribute to production processes.

The other options represent different aspects of production. Human labor refers to the work performed by individuals, capital goods are the man-made assets used in production (like machinery and buildings), and technological inputs relate to innovations and technologies that improve the efficiency of production. However, none of these capture the essence of what 'land' refers to within the framework of factors of production. Therefore, the correct answer is that 'land' primarily consists of natural resources.