Production Cost Advantage

 

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Production Cost Advantage

A source of competitive advantage that depends on producing some product or service at the lowest cost.



Production Cost Advantage

Similar Matches

Edgeworth Production Box

Edgeworth Production Box

A variation of the consumption Edgeworth Box that instead represents the allocations of 2 factors to 2 industries for use in production functions. Efficient allocations now appear as tangencies between isoquants, while the contract curve becomes the efficiency locus.


Production function

Production function

A function that specifies the output in an industry for all combinations of inputs.


Factor of production

Factor of production

Factor (definition 1).


Production worker

Production worker

A worker directly engaged in production. In empirical studies of skilled and unskilled labor, data on production workers are often taken to represent unskilled labor.


Production externality

Production externality

An externality arising from production.


Further Suggestions

Current production rate
Multistage production
Production possibility curve
Industrial production
Production possibilities schedule
Production flow commitment
Production possibility frontier
Neighborhood production structure
Neoclassical production function
Production rate
Nonproduction worker


 
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