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 — 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
