factor endowment

Factor Endowment

The means of production (namely land, labor, capital and sometimes entrepreneurship) contained in an area. In general, greater factor endowment portends greater economic success. However, some resource-poor countries and regions become successful simply by efficient use of the little factor endowment they have.

factor endowment

the FACTORS OF PRODUCTION that a country has available to produce goods and services. The size and quality of a country's resource base (natural resources, labour and capital) determine the amount of goods and services it can produce (see GROSS NATIONAL PRODUCT) and the rate at which it can raise living standards over time (see ECONOMIC GROWTH). Differences between countries in terms of the availability and sophistication of their resource inputs provide an incentive for them to engage in INTERNATIONAL TRADE in order to obtain products that they cannot make efficiently for themselves.

单词	factor endowment
释义	factor endowment Factor Endowment The means of production (namely land, labor, capital and sometimes entrepreneurship) contained in an area. In general, greater factor endowment portends greater economic success. However, some resource-poor countries and regions become successful simply by efficient use of the little factor endowment they have. factor endowment the FACTORS OF PRODUCTION that a country has available to produce goods and services. The size and quality of a country's resource base (natural resources, labour and capital) determine the amount of goods and services it can produce (see GROSS NATIONAL PRODUCT) and the rate at which it can raise living standards over time (see ECONOMIC GROWTH). Differences between countries in terms of the availability and sophistication of their resource inputs provide an incentive for them to engage in INTERNATIONAL TRADE in order to obtain products that they cannot make efficiently for themselves.
随便看	spoken dialogue spoken document retrieval spoken english spoken english corpus spoken english for industry and commerce spoken english for speakers of other languages spoken evil spoken for spoken for her spoken for herself spoken for ourselves spoken for him spoken for himself spoken form spoken for me spoken for myself, himself, etc. spoken for myself spoken for yourself spoken for oneself spoken for self spoken for someone spoken for something spoken for them spoken for themselves spoken for us spoken for you spoken for yourself