factor of production

factor of production (plural factors of production)

1. (economics) A resource used to produce goods and services, such as labor, land, or capital.
   • 2013 June 22, “T time”, in The Economist, volume 407, number 8841, page 68:

     The ability to shift profits to low-tax countries by locating intellectual property in them […] is often assumed to be the preserve of high-tech companies. […] current tax rules make it easy for all sorts of firms to generate […] “stateless income”: profit subject to tax in a jurisdiction that is neither the location of the factors of production that generate the income nor where the parent firm is domiciled.

• factor market