factor market

Factor Market

The market for the means of production. That is, the factor market is the buying and selling of land, labor and capital, as well as raw materials and entrepreneurship. The most important component of the factor market is labor. See also: Factor Income.

factor market

a market in which FACTORS OF PRODUCTION are bought and sold and in which the prices of labour and other FACTOR INPUTS are determined by the interplay of demand and supply forces. See LABOUR MARKET, CAPITAL MARKET, COMMODITY MARKET, DERIVED DEMAND, MARGINAL PHYSICAL PRODUCT, MARGINAL REVENUE PRODUCT, PRICE SYSTEM. factors of production the resources that are used by firms as FACTOR INPUTS in producing a good or service. There are three main groups of factor inputs: NATURAL RESOURCES, LABOUR and CAPITAL.

Factors of production can be combined together in different proportions to produce a given output (see PRODUCTION FUNCTION); it is assumed in the THEORY OF THE FIRM that firms will select that combination of inputs for any given level of output that minimizes the cost of producing that output (see COST FUNCTION). See ENTREPRENEUR, MOBILITY.

References in periodicals archive ?
conducted its 3rd analysis of the coagulation factor market and R&D pipeline and benchmarked the product target profiles by a market research study among haemophilia specialists.
40pm WITH habitual elimination survivors Katie and Wagner now finally dispatched The X Factor market looks much clearer this weekend, writes Lucy Conquest.
THE X FACTOR market received something of a shake-up on Sunday night after the final 12 acts were revealed and Gamu Nhengu, who had been as short as 9-2, was not on the list - but firms are expecting a rules twist and the apparent reject is still quoted at 5-1 to win the series by Coral and Paddy Power.
The articles are grouped into 7 main sections, including macroeconomic analysis, price effects, computable general equilibrium modelling, factor market approaches, and labor markets in developing and in industrial countries.
With the DTX open standard specification, the potential exists for the small form factor market to reap the similar benefits to what the ATX standard has done for the desktop market in recent years.
The study 'Epidermal Growth Factor (CAS 62253-63-8) Market Research Report 2010' presents an overview of the Epidermal Growth Factor market globally and regionally by contemplating and analyzing its parameters.
Identify unmet product needs in the cytokine and growth factor market.
dollar-pegged economies, fiscal consolidation and structural reforms to address factor market rigidities will be especially important for maintaining competitiveness.
Terrapin's lead product candidate, TER199, is a novel, orally active molecule which addresses the $1 billion colony stimulating factor market.
Most notably, company research has led to TER199, a novel, orally active molecule which potentially provides a major advance in the $1 billion colony stimulating factor market in oncology/hematology.
In 2014, the recombinant factor VIII accounted for the largest share of the global recombinant coagulation factor market.
The report stated that the automaker will factor market trends and cost-cutting efforts into the price of the fuel cell version of the Lexus LS.