What does factor endowment mean?
Definitions for factor endowment
fac·tor en·dow·ment
This dictionary definitions page includes all the possible meanings, example usage and translations of the word factor endowment.
Wikipedia
Factor endowment
In economics a country's factor endowment is commonly understood as the amount of land, labor, capital, and entrepreneurship that a country possesses and can exploit for manufacturing. Countries with a large endowment of resources tend to be more prosperous than those with a small endowment, all other things being equal. The development of sound institutions to access and equitably distribute these resources, however, is necessary in order for a country to obtain the greatest benefit from its factor endowment. Nonetheless, the New World economies inherited attractive endowments such as conducive soils, ideal weather conditions, and suitable size and sparse populations that eventually came under the control of institutionalizing European colonists who had a marginal economic interest to exploit and benefit from these new discoveries. Colonists were driven to yield high profits and power by reproducing such economies’ vulnerable legal and political framework, which ultimately led them towards the paths of economic developments with various degrees of inequality in human capital, wealth, and political power.
Numerology
Chaldean Numerology
The numerical value of factor endowment in Chaldean Numerology is: 7
Pythagorean Numerology
The numerical value of factor endowment in Pythagorean Numerology is: 5
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"factor endowment." Definitions.net. STANDS4 LLC, 2024. Web. 27 Apr. 2024. <https://www.definitions.net/definition/factor+endowment>.
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