factor of production

noun

1. any instrument, agent, etc., employed in the production of goods and services.

factor of production

noun

1. a resource or input entering the production of wealth, such as land, labour, capital, etc Also calledagent of production

Example Sentences

"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.

From Reuters

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.

From Reuters

There is this flavor — I’ll call it a factor of production, that it’s an input to somebody else’s creation.

From The Verge

“These 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, ‘the quality of the people’.

From The Guardian

Labor is a factor of production even in an advanced economy that invests heavily in plant and equipment.

From Wall Street Journal