Factors of production (生产要素 shēngchǎn yàosù) refer to all kinds of social resources needed for social production and operation activities. They are the basic factors that needed to be possessed in the process of maintaining the operation of economy and market entities. The four factors of production are land, labor, capital, and entrepreneurship.
- 生产 (shēngchǎn) as in a production line (生产线 shēngchǎn xiàn) or production efficiency (生产效率 hēngchǎn xiàolǜ).
- 要素 (yàosù) as in key factor (关键要素 guānjiàn yàosù) or common factor (共同要素 gòngtóng yàosù).
- Mobile factor of production (可移动生产要素 kěyídòng shēngchǎn yàosù).
- Immobile factor of production (不可移动生产要素 bùkěyídòng shēngchǎn yàosù).
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