factor of production

Definition

Factor (definition 1).

Use this term in a sentence

I asked my friend if he knew what a factor of production was and he told me to go away because he was eating.

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The factor of production was especially vital to our business because, without it's existence, our business would cease to operate.

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The foundry calculated a factor of production using the shipping records and the production rates after adjusting for shrinkage such as loss or scrapped items.

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factor model marginal revenue product