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:

  • factor of production — ˌfactor of proˈduction noun factors of production PLURALFORM [countable] ECONOMICS something that is needed to produce a particular product. The main factors of production are land, labour, and capital: • Inner urban areas provide ideal factors… …   Financial and business terms

  • factor of production — factor 3b * * * any instrument, agent, etc., employed in the production of goods and services. * * * factor of production noun (economics) One of the elements which may contribute to the production of goods, thought of generally as land, capital… …   Useful english dictionary

  • factor of production — noun A resource employed to produce goods and services, such as labor, land, and capital …   Wiktionary

  • factor of production —   capital, labour, land. Combine with entrepreneurship in the attempt to make profit …   Geography glossary

  • Factors of production — In economics, factors of production means inputs and finished goods means output. Input determines the quantity of output i.e. output depends upon input. Input is the starting point and output is the end point of production process and such input …   Wikipedia

  • 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

  • Means of production — Not to be confused with Mode of production. Economics …   Wikipedia

  • 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

  • Factor price equalization — is an economic theory, which states that the relative prices for two identical factors of production in the same market will eventually equal each other because of competition. The price for each single factor need not become equal, but relative… …   Wikipedia

  • Production function — Graph of Total, Average, and Marginal Product In microeconomics and macroeconomics, a production function is a function that specifies the output of a firm, an industry, or an entire economy for all combinations of inputs. This function is an… …   Wikipedia

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