Economics A-Level
Factor prices
What Factor prices means in Economics A-Level, as defined for AQA.
Definition of Factor prices
Check what you remember
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Reference: AQA
The cost of employing land, labour, capital, and enterprise, including wages for labour, rent for land, and interest for capital.
Topics that use Factor prices
- Costs of production (AQA A-Level)
Related terms
- Cost curve geometry
- Diminishing marginal returns
- Economies of scale
- Factors of production
- Fixed and variable costs
- Fixed costs
- Long-run costs
- Marginal cost
Using Factor prices in the exam
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