factor of production


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factor of production

n
(Economics) a resource or input entering the production of wealth, such as land, labour, capital, etc. Also called: agent of production
References in periodicals archive ?
The project aims to sustain soil fertility and soil as a factor of production.
It is the main cause of inflation in Tunisia, a vicious cycle that could be broken only in relation to the improvement of the situation of citizens' purchasing power, creating a dynamics of consumption and adequate demand and creating wealth relatively proportional to the mass or the factor of production costs including the country's payroll in general.
The first factor of production is land, including any natural resource used to produce goods and services.
The fifth and final factor of production is finance, the supply of investment funds drawn from savings.
For Chandler, what was revolutionary was the emergence of management as a key factor of production for U.
Expenditure by these companies is grouped into the four main factors of production: land, labour, capital and finance ('money') according to how their description best aligns to the factor of production.
Acknowledging the importance of energy as a key factor of production, this Annual Report will devote a full chapter to assess Pakistan's energy shortage.
Therefore, no factor of production can be exchanged, and there can be no money prices for factors of production.
Singapore), "is both an administrative process and a structure of authority relations [that] involves the channeling of resources in building up knowledge management capabilities and improving the competitive advantage of a country in the world market by utilizing knowledge as a factor of production.
Knowledge as a factor of production within this new information based economy, is gaining importance in the era of globalization, he added.