Search results
Results from the WOW.Com Content Network
In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, goods and services. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function .
In macroeconomics, factor shares are the share of production given to the factors of production, usually capital and labor. This concept uses the methods and fits into the framework of neoclassical economics .
In economics, a factor market is a market where factors of production are bought and sold. Factor markets allocate factors of production, including land, labour and capital, and distribute income to the owners of productive resources, such as wages, rents, etc. [1] Firms buy productive resources in return for making factor payments at factor ...
Factor price equalization – The relative prices for two identical factors of production will eventually be equalized across countries because of international trade. Stolper–Samuelson theorem – A rise in the relative price of a good will lead to a rise in the return to that factor which is used most intensively in the production of the ...
The production process and output directly result from productively utilising the original inputs (or factors of production). [3] Known as primary producer goods or services, land, labour, and capital are deemed the three fundamental factors of production. These primary inputs are not significantly altered in the output process, nor do they ...
In today's puzzle, there are eight theme words to find (including the spangram). Hint: The first one can be found in the bottom-half of the board. Here are the first two letters for each word: FI ...
Factor price equalization is an economic theory, by Paul A. Samuelson (1948), which states that the prices of identical factors of production, such as the wage rate or the rent of capital, will be equalized across countries as a result of international trade in commodities. The theorem assumes that there are two goods and two factors of ...
In his discussion of ground rent, Marx notes especially the differences between industrial and agricultural production prices. [33] The suggestion is that there is a structural difference between the average profit rates applying to different sectors of production. the inter-sectoral production price. This price-level refers to the sale of ...