Factor of production is a basic category of economics. Modern western economics believes that factors of production include labor, land, capital and entrepreneurs. With the development of science and technology and the establishment of intellectual property system, technology and information are also put into production as relatively independent elements. These factors of production are exchanged in the market, forming various factors of production prices and their systems.

Factors of production (also known as factors of production) refer to all the factors necessary for material production and their environmental conditions.

Generally speaking, the factors of production at least include human factors, material factors and their combination factors.

In the historical process of social and economic development, the connotation of factors of production is increasingly rich, and new factors of production such as modern science, technology, management, information and resources continue to enter the production process and play their respective important roles in modern mass production. The structural mode of production factors will also change, and the more developed the productive forces, the greater the role of these factors.