Production function — Graph of Total, Average, and Marginal Product In microeconomics and macroeconomics, a production function is a function that specifies the output of a firm, an industry, or an entire economy for all combinations of inputs. This function is an… … Wikipedia
production function — Equation that expresses the relationship between the quantities of productive factors (such as labour and capital) used and the amount of product obtained. It states the amount of product that can be obtained from every combination of factors,… … Universalium
production function — function of the yield in relation to the estimates (Economics) … English contemporary dictionary
production function — noun : the technical relationship between product output and the input of factors of production … Useful english dictionary
Cobb–Douglas production function — A two input Cobb–Douglas production function In economics, the Cobb–Douglas f form of production functions is widely used to represent the relationship of an output to inputs. Similar functions were originally used by Knut Wicksell (1851–1926),… … Wikipedia
Education production function — The education production function is the application of the economics concept of a production function to the field of education, where the inputs and outputs of production are the students and resources going into a given school (or school… … Wikipedia
Leontief production function — In economics, the Leontief production function s a production function that implies the factors of production will be used in fixed proportions, as there is no substitutability between factors. It was named after Wassily Leontief and represents a … Wikipedia
Soil production function — refers to the rate of bedrock weathering into soil as a function of soil thickness. A general model suggested that the rate of physical weathering of bedrock (de/dt) can be represented as an exponential decline with soil thickness: de/dt = P 0… … Wikipedia
Household production function — Consumers often choose not directly from the commodities that they purchase but from commodities they transform into goods through a household production function. It is these goods that they value. The idea was originally proposed by Gary Becker … Wikipedia
production, theory of — ▪ economics Introduction in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw… … Universalium
Production theory basics — In microeconomics, Production is simply the conversion of inputs into outputs. It is an economic process that uses resources to create a commodity that is suitable for exchange. This can include manufacturing, storing, shipping, and packaging.… … Wikipedia
