factor of production

Definitions

Economics

  • noun one of the four things needed to produce a product (land, labour, machinery and capital)
  • abbreviationproduction factor
    (written as Factor of production)

Health Economics

  • (written as Factor of Production)
    An input in the production of goods or services. Factors of production are often classified as land, labour and capital.
  • synonymInput
http://www.dictionarycentral.com/definition/factor-of-production.html