Production function

 

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Production function

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



Similar Matches

Industrial production

Industrial production

A statistic determined by the Federal Reserve Board focusing on the total output of all US factories and mines on a monthly basis. Used as an economic indicator.


Factor of production

Factor of production

Factor (definition 1).


Production flow commitment

Production flow commitment

An agreement by the loan purchaser to allow a monthly loan quota to be delivered in batches.


Neoclassical production function

Neoclassical production function

A production function with the properties of constant returns to scale and smoothly diminishing returns to individual factors.


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.


Further Suggestions

Production possibilities schedule
Production possibility curve
Production Cost Advantage
Edgeworth Production Box
Current production rate
Nonproduction worker
Production externality
Neighborhood production structure
Multistage production
Production possibility frontier
Production rate


 
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