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Explanation:

What is meant by the term factors of production;

Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

What are four different factors of production; land, labor, capital, and entrepreneurship.

What is meant by the term entrepreneur;

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. ... The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures

In what industry is labor likely to be the most important factor of production;

Labour is an active factor of production. It is the factor that starts production. Land and Capital alone cannot start production, so they are passive factors. They need the active factor of production, i.e. labour to be productive themselves.