*noun*; term coined by Adam Smith (1723-1790) to refer to things used to produce other things. Usually people refer to four factors of production:
1.labor (not the same thing as workers); a worker can work more or less hours per week, and can exchange her labor for payment
2. capital; includes tools, machinery, plants and fixtures, seed corn, etc. Adam Smith distinguished between inventories, which he called circulating capital, and tools, which he called fixed capital;
3. land; understood as a specific area on the earth's surface, but sometimes incorporates the natural productivity or mineral resources as well;
4. entrepreneurship; sometimes lumped with capital. Includes the combination of skills required to start a business.
1.labor (not the same thing as workers); a worker can work more or less hours per week, and can exchange her labor for payment
2. capital; includes tools, machinery, plants and fixtures, seed corn, etc. Adam Smith distinguished between inventories, which he called circulating capital, and tools, which he called fixed capital;
3. land; understood as a specific area on the earth's surface, but sometimes incorporates the natural productivity or mineral resources as well;
4. entrepreneurship; sometimes lumped with capital. Includes the combination of skills required to start a business.
Different economic systems vary in their view of who should own the factors of production. In capitalism, this would be private individuals; in communism, it would be a collective. In the Marxist transition to communism, it would be the state.
by Abu Yahya March 3, 2009
Get the factors of productionmug. slang, adj. A symptom following being pointed out the obvious. Also known as having a blonde moment. Synonyms: pwned, OSHUNED!, blonde moment
Person 1: Say, what can you tell me about Weapon Breaks in an RP Battle?
Person 2: Weapon Breaks? Breaking people's weapons.
Person 1: Oh.
{In this case, Person 1 would be feeling the "Duh" Factor
Person 2: Weapon Breaks? Breaking people's weapons.
Person 1: Oh.
{In this case, Person 1 would be feeling the "Duh" Factor
by SaturnAngel November 14, 2003
Get the Duh Factormug. An international version of the Scandinavian "Fultal", literally: "Ugly Number". Simply the amount of partners a person has slept with, multiplied by the difference in age between the youngest and oldest.
Ex. 15 partners, youngest born 1985, oldest 1975, filth factor of 150.
Ex. 15 partners, youngest born 1985, oldest 1975, filth factor of 150.
- Karen spent the night at that 65 year old's place.
- Oh my god, her filth factor must have gone through the roof!!
- Oh my god, her filth factor must have gone through the roof!!
by Carl Philip March 11, 2008
Get the filth factormug. being fine with someone you have feelings for having sex with anybody, but gettin shitty if they hav sex with your friend that you are close with and has had sex with at least 20 different people
Friend 1:Dude, Lauren doesnt even care that Jake hooked up with a ton of girls so far this summer, even though she likes him, but she flipped out when she heard that him and her friend Skye were gunna hook up,
Friend 2: Dude, must be The Skye Factor
Friend 2: Dude, must be The Skye Factor
by Jonny Appletree July 5, 2009
Get the The Skye Factormug. by Netty-Swobb February 15, 2020
Get the middo factormug. by The Chunk Factory May 22, 2011
Get the Chunk Factormug. crazy crazy guy silly silly so silly (do not trust) awesome swell guy good taste in gifs awesome awesome pretty funny really funny kind of funny big big chungus bruh bruh br no i not u stupid whats 9 +10 bruh u stup
by theweeklyflip September 20, 2021
Get the sludge factormug.