Share

Paul Samuelson | Production Function | Economics : Meaning, Definition


{tocify} {$title=Table of Contents}

Economics 

Economics is the study of how man and society choose with or without the use of money to employ the scarce productive resources, which have alternative uses, to produce various commodities over time and distribute them for consumption, how or in the future among various people or groups in society. 
Economics is concerned with determining the pattern of employment of scarce resources to produce commodities ‘over time’

Production Function 

“The production function is the Technical relationship telling the maximum amount of output capable of being produced by each and every set of specified inputs. It is defined for a given set of technical knowledge.”

About the Above Author 

We got nothing about the author

This research paper is published exclusively on Definepedia's free article repository. You can use it for research and reference purposes to write your own paper. However, you must cite it accordingly.

APA
MLA
Harvard

APA Citation

Author:

Title:

Source:

Date:

           

MLA Citation

. . .

           

Harvard Citation

() ''. . (Accessed: ).

           

Leave a Reply

Your email address will not be published. Required fields are marked *