Question

factor pricing comes under micro economic.why?​

Answer 1

In economics, there are four main factors of production, namely land, labor, capital, and enterprise. The price that an entrepreneur pays for availing the services of these factors is called factor pricing. ... This is because in both the cases, the prices are determined with the help of demand and supply forces.

Answer 2

Answer:

The demand for factors of production is derived demand, while demand for products is direct demand. Moreover, the demand for the factors of production is joint demand. ... For example, there is no cost of production for land, labor, and capital. Therefore, the factor pricing is separated from product pricing

Explanation:

In economic theory, a factor price is the unit cost of using a factor of production, such as labor or physical capital. ... Marginalist economists argue that the factor price is a function of the demand for the final product, and so they are imputed from the finished product.

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