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factor of production
noun
- any instrument, agent, etc., employed in the production of goods and services.
factor of production
noun
- a resource or input entering the production of wealth, such as land, labour, capital, etc Also calledagent of production
Example Sentences
鈥淭heir labor is a crucial factor of production, and it鈥檚 that production that generates other jobs in the sector. That鈥檚 something I wish everyone understood.鈥
"We will improve the governance of the digital economy and unleash the potential of data as a factor of production, to further stimulate economic development and enrich people's lives," said Li.
The project was supercharged in April 2020, when a State Council document declared data would be the fifth "factor of production" - on par with labour, technology, land and capital in terms of national economic resources.
There is this flavor 鈥 I鈥檒l call it a factor of production, that it鈥檚 an input to somebody else鈥檚 creation.
鈥淭hese urban governments see workers as just another factor of production. They are interested in upgrading industry, so they also want to upgrade, to use their language, 鈥榯he quality of the people鈥.
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