There is absolutely nothing at all in being an entrepreneur that requires either invention or innovation: it is about the organisation of the factors of production.
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Commerce does this by endeavoring to consider all of the factors of production necessary to make the product (the various materials, labor, electricity, water, and other overhead) and valuing those inputs by reference to their prices in another country.
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On the most abstract level this is because liquidity earns real rents, those rents are distilled by a perfectly competitive market and ultimately accrue to the owners of the irreproducible factors of production.
In such an economy one in which ideas, and the ability to manipulate them, count for far more than the traditional factors of production the university has come to look like an increasingly useful asset.
In farming, just as in anything else, the classical factors of production are land, labour and capital.
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They fixate on the inanimate stuff of capital and overlook the human imagination, patience and effort to anticipate consumer desires and bring together the many factors of production to eventually satisfy them.
Capital malinvestment and the misallocation of factors of production no longer can be covered over as the official statistics catch up with reality.
When the market factors in the continued erosion of gas production and exports of U.S. LNG, which are slated to begin within a 2-year time frame, the big picture becomes clear.
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As patients age, genetic mutations or unknown environmental factors may boost the production of deformed proteins, or old brain cells simply may become less able to dispose of debris.
In particular, low-status individuals showed high levels of activity in genes associated with the production of various immune-related cells and chemical signalling factors, as well as those to do with inflammation (a general immune response that involves tissue swelling and increased immune-cell activity in the affected area).
The combined factors are expected to reduce the year-end production by some 50, 000 barrels of oil a day, Mr Chapman said.
There are limits to monetary policy: the Fed does not have the knowledge to bring about full employment, which requires flexible relative prices for all factors of production.
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The World Bank cites, among other factors, Saudi Arabia importing wheat, a result of its cuts in production to conserve water.
Kotick rattled off various factors he says make the "Call of Duty" franchise stand out from competitors -- "production value, the level of polish, " that "no detail gets left unaltered, " he said.
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Natural factors such as forest fires further affect air quality by emitting carbon monoxide and other gases that lead to the production of ozone.
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