Definition: Factors of production

Business demography

A factor of production is any good or service used to produce an output. In economics, factors of production are normally grouped into the categories land, labour and capital. Capital includes intermediate inputs.
Source:
Eurostat and Organization for Economic Cooperation and Development (OECD), "Eurostat - OECD Manual on Business Demography Statistics (Edition 2007)", Methodologies and Working Papers, Office for Official Publications of the European Communities, Luxembourg, 2007
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