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Factor Price |
Also found in: Wikipedia | 0.01 sec. |
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Factor Price The price at which the means of production (that is, land, labor, capital and sometimes entrepreneurship) are sold. Economists disagree about what determines factor prices. Marxists and classical economists argue that factor prices represent the intrinsic value of the means of production. Other economists, however, believe that factor prices come from demand for the means of production. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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