Give examples of the transformation of an intellectual product into a factor of production.

For the production of any good, resources are needed, which act as factors of production.
The following factors of production are distinguished:
Labor is a combination of physical and intellectual capabilities of a person. The income from the use of labor is called wages.
Capital – there are two types: production and financial. Manufacturing includes all means of production created by man (buildings, structures, equipment). To the financial – the funds that are attracted to purchase production capital. The income received from the use of capital is called interest.
Land is a natural resource that is used in the production process. Land payment is rent.
Entrepreneurship is an ability that manifests itself in the ability to rationally manage all other factors of production. The payment received from using the factor “entrepreneurship” is called profit.

Remember: The process of learning a person lasts a lifetime. The value of the same knowledge for different people may be different, it is determined by their individual characteristics and needs. Therefore, knowledge is always needed at any age and position.