concepts of "factors of production" and "factor income" Mezhuyev are interrelated, and this article will be shown this relationship.
Factors of production can be the following types of resources with which:
- organization of production of goods is carried out;
- Adjusts the amount of the finished product.
In other words, they are identical economic resources, which identifies the source and means of production.
In turn, economic resources can be classified in the context of the following characteristics: natural, labor, capital, working capital, and financial information.
Based on these types of resources, it is necessary to briefly describe each of them.For example, the work can be represented as the union of mental and physical abilities, used by people in the process of wealth creation.Its main characteristics are:
- intensity determines the amount expended labor force passed period of time;
- productivity, measured by the amount of output per unit of time.
natural resources include land, which is divided into:
- regions where production facilities are located;
- arable land on which grow a variety of crops and grain crops, melons, etc .;
- mineral deposits.
Another important natural resource is the entrepreneurial ability.She may have only some of the people doing huge set of different functions, without which a successful production efficiency is simply impossible.
meaning of the concept of "capital" is gradually adjusted to the constant development of the economic outlook.For example, Ricardo and Smith believed his means of production.Other experts in the field of Economics argued that it combines money and securities.Today, capital is understood by all that can bring its owner returns.Based on the last definition, it is divided into the real, monetary and financial.However, this factor still requires some clarification.Thus, the financial component of equity in the form of stocks, bonds and bank deposits to the factors of production can not be regarded as not directly related to the production process.
factor income include those derived from the use of factors of production.When they compared the following indicators are formed.
from use of labor obtain factor incomes - wages.Rent income is presented, which regularly receives from the owner of the property and land use.The percentage is determined by the board of the use of borrowed (credit interest) or the money invested for a certain period of depositors (deposit interest).
term "net factor income" is used for the funds received from abroad.In other words - it is the difference between the revenues that are received compatriots abroad and income of foreign nationals who have received them on the territory of our country.
factor income can be used in the calculation of many macroeconomic indicators of the state.Below are some examples.
As part of the gross national product release such factor income:
- salaries and other compensation for time worked nationals;
- own revenues of organizations, enterprises, institutions;
- rental income;
- profit remaining after the payment of wages and interest on the loan;
- net interest represented by the difference between the interest payments of corporations paid to others, and those obtained from other companies.
