We should strive to create an environment that promotes the free yet orderly flow of both international and domestic factors of production, enhancing economic vitality.
The statistics that measure what is happening in labor markets also present special problems that are not present when considering statistics about inanimate factors of production.
We will continue to put agricultural and rural development first, pursue integrated development of urban and rural areas, and facilitate the flows of production factors between them.
The factor cost is, of course, the same thing, looked at from the point of view of the entrepreneur, as what the factors of production regard as their income.
" If God had meant there to be more than two factors of production, he would have made it easier for us to draw three-dimensional diagrams, " Solow quipped.
For instance, neither farming nor herding developed in prehistoric times in North America's Arctic, while the sole element of food production to arise in Eurasia's Arctic was reindeer herding.