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  2. Production (economics) - Wikipedia

    en.wikipedia.org/wiki/Production_(economics)

    In an economic market, production input and output prices are assumed to be set from external factors as the producer is the price taker. Hence, pricing is an important element in the real-world application of production economics. Should the pricing be too high, the production of the product is simply unviable.

  3. Production function - Wikipedia

    en.wikipedia.org/wiki/Production_function

    In economics, a production function gives the technological relation between quantities of physical inputs and quantities of output of goods. The production function is one of the key concepts of mainstream neoclassical theories, used to define marginal product and to distinguish allocative efficiency, a key focus of economics. One important ...

  4. Production–possibility frontier - Wikipedia

    en.wikipedia.org/wiki/Production–possibility...

    In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time.

  5. Factors of production - Wikipedia

    en.wikipedia.org/wiki/Factors_of_production

    In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, goods and services. The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function .

  6. Means of production - Wikipedia

    en.wikipedia.org/wiki/Means_of_production

    The ownership and organization of the social means of production is a key factor in categorizing and defining different types of economic systems. The means of production includes two broad categories of objects: instruments of labor (tools, factories, infrastructure, etc.) and subjects of labor (natural resources and raw materials).

  7. Glossary of economics - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_economics

    The mode of production is a related concept. [148] All economic systems have three basic questions to ask: what to produce, how to produce it, and in what quantities and who receives the output of production. economics The social science that studies the production, distribution, and consumption of goods and services within economies. [149]

  8. Mode of production - Wikipedia

    en.wikipedia.org/wiki/Mode_of_production

    In the Marxist theory of historical materialism, a mode of production (German: Produktionsweise, "the way of producing") is a specific combination of the: . Productive forces: these include human labour power and means of production (tools, machinery, factory buildings, infrastructure, technical knowledge, raw materials, plants, animals, exploitable land).

  9. Long run and short run - Wikipedia

    en.wikipedia.org/wiki/Long_run_and_short_run

    Unlike the classical political economics theory, the neoclassical economics theory set distribution, pricing, and output all at the same time. All of these variables' "natural" or "equilibrium" values relied heavily on technological conditions of production and were consequently linked to the "attainment of a uniform rate of profits in the ...