production wikipedia - EAS
- See moreSee all on Wikipedia
Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output. Ideally this output will be a good or service which has value and contributes to the utility of individuals. The area of … See more
The underlying assumption of production is that maximisation of profit is the key objective of the producer. The difference in the value of the production values (the output value) and costs (associated with the factors of … See more
A production model is a numerical description of the production process and is based on the prices and the quantities of inputs and … See more
In principle there are two main activities in an economy, production and consumption. Similarly, there are two kinds of actors, producers and … See more
In the short run, the production function assumes there is at least one fixed factor input. The production function relates the quantity of factor inputs used by a business to the … See more
An efficient way to improve the understanding of production performance is to formulate different objective functions according to the objectives of the different interest groups. … See more
• Moroney, J. R. (1967) Cobb-Douglass production functions and returns to scale in US manufacturing industry, Western Economic Journal, vol 6, no 1, December 1967, pp 39–51.
• Pearl, D. and Enos, J. (1975) Engineering production functions and technological … See moreWikipedia text under CC-BY-SA license Related searches for production wikipedia