factor of production

any instrument, agent, etc., employed in the production of goods and services.
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factor of production
Also called: agent of production a resource or input entering the production of wealth, such as land, labour, capital, etc

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
Knowledge is becoming the one critical factor of production.
So knowledge is not only a factor of production, it's the factor of production.
What they ignore is that one factor of production has not been similarly
  liberated: labor.
Changes in output per hour, however, do not measure the specific contribution
  of labor or any other factor of production.
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