Concept information
Preferred term
factors of production
Definition
- There are numerous variables that influence the location of firms and of industries, which are aggregations of firms. The locational decision of a firm is complex, and companies spend considerable time and effort in choosing their optimal locations. [Source: Encyclopedia of Human Geography; Factors of Production]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/factors_of_production
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