Factor price (要素价格 yàosù jiàgé) refers to the price that an individual pays for the factors needed to produce an output. For instance, an entrepreneur pays a certain wage to obtain the labor for production.
Factor price (要素价格 yàosù jiàgé) word examples:
- Factor price equalization (要素价格均等 yàosù jiàgé jūnděng).
- Factor price insensitivity (要素价格不敏感 yàosù jiàgé bùmǐngǎn).
- Factor pricing (要素定价 yàosù dìngjià).