Dictionary of Business Terms: factors
factors
- economic resources that go into the production of a good. Economic factors include (a) capital, (b) human resources or labor, and (c) property resources including land. Entrepreneurial ability is considered by some a fourth factor since it organizes the other three factors plus innovation while bearing a capital risk; also called factors of production.
- merchants who work on commission.
- agents who sell goods entrusted to their possession; see factoring.
- business intermediaries.
