least-cost production

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• 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

• Cost curve — In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms use these curves to find the optimal point of production (minimising cost), and… …   Wikipedia

• Production–possibility frontier — In economics, a production–possibility frontier (PPF), sometimes called a production–possibility curve or product transformation curve, is a graph that compares the production rates of two commodities that use the same fixed total of the factors… …   Wikipedia

• Production-possibility frontier — In economics, a production possibility frontier (PPF) or “transformation curve” is a graph that shows the different rates of production of two goods that an economy (or agent) could efficiently produce with limited productive resources. Points… …   Wikipedia

• 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 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

• cost — {{Roman}}I.{{/Roman}} noun 1 money needed to buy sth ADJECTIVE ▪ considerable, high ▪ The high cost of energy was a problem for consumers. ▪ enormous, exorbitant, huge, prohibitive …   Collocations dictionary

• mass production — the production or manufacture of goods in large quantities, esp. by machinery. [1915 20] * * * Application of the principles of specialization, division of labour, and standardization of parts to the manufacturing of goods on a large scale.… …   Universalium

• Runaway production — A Runaway production is a term used by the film industry to describe motion picture productions and television shows that are intended for initial release/exhibition or television broadcast in the U.S., but are actually filmed in another country …   Wikipedia

• 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

• Opium production in Afghanistan — Harvested poppy capsules. Afghanist …   Wikipedia