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Production (economics) Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output. Ideally this output will be a good or service which has value and contributes to the utility of individuals. [1]
the amount of something that is made or grown by a country or a company. 產量. Swedish industrial production has fallen steadily this year. 瑞典的工業產量今年逐步下降。 Wheat production has risen over the years. 小麥產量在這幾年內提高了。 减少例句. The government has pledged to reduce the amount of chemicals used in food production.
the activity of organizing the practical and financial matters relating to the preparation of a film, play, or television or radio programme: She's hoping to get into television production. Disney's latest production (= film) looks likely to be its most successful ever. [ C ]
What is Production? | Microeconomics. Learning Objectives. Describe and differentiate between the types of inputs in the production process. As we said earlier, this module is the first of several modules that explore the theory of the firm. Let’s define what is meant by the firm.
the amount of something that is made or grown by a country or a company. 产量. Swedish industrial production has fallen steadily this year. 瑞典的工业产量今年逐步下降。 Wheat production has risen over the years. 小麦产量在这几年内提高了。 减少例句. The government has pledged to reduce the amount of chemicals used in food production.
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Let’s define what is meant by the firm. A firm (or business) combines inputs of labor, capital, land, and raw or finished component materials to produce outputs. If the firm is successful, the outputs are more valuable than the inputs. This activity of production goes beyond manufacturing (i.e., making things).
Other articles where production is discussed: production system: Underlying principles: All production systems, when viewed at the most abstract level, might be said to be “transformation processes”—processes that transform resources into useful goods and services. The transformation process typically uses common resources such as labour, capital (for machinery and equipment, materials ...
