Production, Theory Of
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 material, fixed capital good, etc., that it employs (its �inputs� or �factors of production�) it will use. The theory involves some of the most fundamental principles of economics.
posted by AutomaticBranch @ 3:11 AM
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