What is Production Function ?
Factors of production means inputs and finished goods means output. Input decides the quantity of output i.e. output depends upon input. Input is the starting point and output is the end point of production process and such input-output relationship is called as "Production Function".All factors of production like land, labour, capital and entrepreneur are required
Friday, 26 November 2010
4 Factors of Production - Land Labour Capital and Enterprise
Posted on 20:45 by Unknown
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