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Factor price |
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Factor priceThe price paid for the services of a unit of a primary factor of production per unit time. Includes the wage or salary of labor and the rental prices of land and capital. Does not normally refer to the price of acquiring ownership of the factor itself, which might be called the "purchase price."Similar MatchesFactor content pattern of tradeFactor content pattern of tradeThe trade pattern of a country or the world, focusing on factor content of the goods and services that are traded, as opposed to the commodity pattern of trade. Factor intensity reversalFactor intensity reversalA property of the technologies for two industries such that their ordering of relative factor intensities is different at different factor prices. For example, one industry may be relatively capital intensive compared to the other at high relative wages and labor intensive at low relative wages. Some propositions of the Heckscher-Ohlin Model require the absence of FIRs. Factor of productionFactor of productionFactor (definition 1). Specific factorSpecific factorA factor of production that is unable to move into or out of an industry. The term is used to describe both factors that would not be of any use in other industries and -- more loosely -- factors that could be used elsewhere but do not, in the short run, have the time or resources needed to move. See specific factors model. The term seems to come from Haberler (1937). Single factor modelSingle factor modelA model of security returns that acknowledges only one common factor. The single factor is usually the market return. See: Factor model. Further SuggestionsTotal factor productivityAnnuity factor Present value factor Factor content Factor-price space Direct factor content Factor abundance Factor space Factor Proportions Model Primary factor Factor-using Factor market Factor price equalization Factor portfolio Risk factor V Vacancy Factor Pool factor Factor endowment Factor-saving International factor movement Factor scarcity Direct-plus-indirect factor content Factor augmenting Multifactor model Factor proportions |
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