Effective factor endowment (有效要素禀赋 yǒuxiào yàosù bǐngfù) refers to the quantity of various factors of production (including land, labor, capital and Entrepreneurship) owned by a country and used for production and manufacturing. If the supply of a certain factor in a country’s factor endowment is greater than that of the same factor in other countries, and the price is relatively lower than that of the same factor in other countries, the factor in that country is relatively abundant, and vice versa.
- 有效 (yǒuxiào) derives from
- 要素 (yàosù) as in key factor (关键要素 guānjiàn yàosù) or common factor (共同要素 gòngtóng yàosù).
- 禀赋 (bǐngfù) derives from
禀 (bǐng), receive and 赋 (fù) endowment (shell 贝 bèi and Kung Fu 武). Shell is used as currency in ancient China. Thus, we can assume that a person has endowment if he or she possesses shell and Kung Fu at the same time.
Factor endowment (要素禀赋 yàosù bǐngfù) word examples:
- Factor endowment theory (要素禀赋理论 yàosù bǐngfù lǐlùn).