factor of production
any instrument, agent, etc., employed in the production of goods and services.

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Universalium. 2010.

Look at other dictionaries:

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  • factors of production — The resources and inputs required for the *production of goods of economic *value. Famously defined by the economist Alfred Marshall (1842 1924) as the things necessary for making a commodity, the factors of production have traditionally been… …   Auditor's dictionary

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  • Cost-of-production theory of value — In economics, the cost of production theory of value is the theory that the price of an object or condition is determined by the sum of the cost of the resources that went into making it. The cost can compose any of the factors of production… …   Wikipedia

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