The phrase "a factor of production" is correct and usable in written English.
It is typically used in economic contexts to refer to the resources used in the production of goods and services.
Example: "Land, labor, and capital are considered the three main factors of production in economics."
Alternatives: "an input in production" or "a production resource".
In a suitably fact-packed new report, "Big data: the next frontier for innovation, competition and productivity", MGI argues that data are becoming a factor of production, like physical or human capital.
IN THIS week's print edition, we take look at land and its importance as a factor of production.
In a free enterprise economy, the willingness to cope with the uninsurable has to be remunerated, and thus it is a factor of production.
He also introduced the concept of opportunity cost: Wieser showed that the cost of a factor of production can be determined by its utility in some alternative use i.e., an opportunity forgone.
In fact, data, and the knowledge extracted from them, may even be on their way to becoming a factor of production in their own right, just like land, labour and capital.
Modern economists treat land and capital though they were the same, effectively creating a two factor model, but they are fundamentally different: land as a factor of production refers to all natural resources and has no cost of production.
He goes on to say, "This is a factor of seed production in agronomy as well as pollen production.
This downturn will continue to marginalize labor's position in an economy where the non-human factor of production, productive capital, is the factor that is exponentially becoming more productive, not labor.
It can, for example, measure the marginal productivity of a particular factor of production (i.e., the change in output from one additional unit of that factor).
Finally we present our main results when excluding Norway, a country whose GDP is highly dependent on a specific factor of production, crude oil, which is not captured in our production function.
Fetter's arguments have been credited with prompting mainstream economists to abandon the Georgist idea "that land is a unique factor of production and hence that there is any special need for a special theory of ground rent...."....
