what is definition of production
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Production (economics) Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output). It is the act of creating output, a good or service which has value and contributes to the utility of individuals.
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What is Productivity? Definition Meaning Meaning of Productivity. Productivity is a relationship between output and input. It is expressed or measured as a ratio of output and input. In other words, it equals output divided by input.roductivity is expressed or measured as a mathematical division of two important parameters (functions) viz., output and input. The concept of productivity is depicted in the following illustration. Image credits © Prof. Mudit Katyani.
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- On Board the World's Most Powerful Tugboat. As ships get bigger, towing companies build more powerful and agile tugboats to guide the shipping behemoths in and out of port. PM rides on the 6500-hp Edward J Moran, tasked with escorting a liquefied natural gas tanker that some call a giant floating bomb.
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Production function Production function, in economics, equation that expresses the relationship between the quantities of productive factors (such as labour and capital) used and the amount of product obtained.
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How to Use Apple Cider Vinegar and Baking Soda to Clean a Tea Kettle Dump the solution down the drain and rinse the kettle thoroughly, using a clean dishcloth to wipe it out. If any minerals remain, place more vinegar inside the kettle and allow it to soak for at least 5 minutes before rinsing. White vinegar may be used in place of apple cider vinegar for kettle cleaning.
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Mass production A modern automobile assembly line. Mass production, flow production or continuous production is the production of large amounts of standardized products, including and especially on assembly lines. Together with job production and batch production, it is one of the three main production methods.
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- Full Definition of PRODUCT. 1. : the number or expression resulting from the multiplication together of two or more numbers or expressions. 2.a (1) : something produced; especially: commodity 1 (2) : something (as a service) that is marketed or sold as a commodity.3.: the amount, quantity, or total produced. 4.efinition of PRODUCT for Kids. 1. : the number resulting from the multiplication of two or more numbers. 2. : something resulting from manufacture, labor, thought, or growth.
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What is 'Productivity' DEFINITION of 'Productivity'. An economic measure of output per unit of input. Inputs include labor and capital, while output is typically measured in revenues and other GDP components such as business inventories.
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- Production system, any of the methods used in industry to create goods and services from various resources. 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.
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produce Definition of produce. 1  1a : something producedb : the amount produced : yield. 2  2 : agricultural products and especially fresh fruits and vegetables as distinguished from grain and other staple crops. 3  3 : the progeny usually of a female animal.
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output Definition of output for English Language Learners. : the amount of something that is produced by a person or thing. : something (such as power, energy, or information) that is produced by a machine or system.
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producer noun. The producer is in charge of financing a movie. The producer is in charge of financing a movie. The definition of a producer is someone who creates good and services or is in charge of coordinating all aspects of creating an entertainment performance.1  An example of producer is someone who is in charge of the financing of a play or movie.plural producers). ( 1 economics) An individual or organization that creates goods and services. 2  One who produces an artistic production like a CD, a theater production, a film, a TV program and so on. ( 3 biology) An organism that produces complex organic compounds from simple molecules and an external source of energy.
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- n. 1  1. The quality of being productive. 2  2. Economics The rate at which goods or services are produced especially output per unit of labor. 3  3. Ecology The rate at which photosynthesizing or chemosynthesizing producers form organic substances that can be used as food by consumers.
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productivity Definition of productivity: The amount of output per unit of input (labor, equipment, and capital). There are many different ways of measuring... Definition of productivity: The amount of output per unit of input (labor, equipment, and capital). There are many different ways of measuring productivity. For example, in a factory productivity might be measured based on the number of hours it takes to produce a good, while in the service sector productivity might be measured based on the revenue generated by an employee divided by his/her salary.
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THE CONCEPT OF DEVELOPMENT DEFINITION of 'Gross Domestic Product-GDP'. Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.
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ODLIS Definition of production. 1  1a : something produced : productb (1) : a literary or artistic work (2) : a work presented to the public (as on the stage or screen or over the air)c : something exaggerated out of proportion to its importance.
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Concept of Cost of Production: Definition and Meaning: By Cost of Production is meant the total sum of money required for the production of a specific quantity of output. In the word of Gulhrie and Wallace: In Economics, cost of production has a special meaning.
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Business Manufacturing is the production of merchandise for use or sale using labour and machines, tools, chemical and biological processing, or formulation.anufacturing takes turns under all types of economic systems. In a free market economy, manufacturing is usually directed toward the mass production of products for sale to consumers at a profit.
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What is 'Production Cost' DEFINITION of 'Production Cost'. A cost incurred by a business when manufacturing a good or producing a service. Production costs combine raw material and labor.To figure out the cost of production per unit, the cost of production is divided by the number of units produced.roduction costs can be used to compare the expenses of different activities within the company. In production, there are direct costs and indirect costs. For example, direct costs for manufacturing an automobile are materials such as the plastic, metal or labor incurred to produce such an item.
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What are Factors of Production? Factors of Production. Definition: Factors of Production in economics are inputs that a business uses to produce a good or service. In other words, these are the building blocks or materials and supplies that businesses use to create goods and service in an effort to make a profit. Traditional economics breaks these materials into four factors of production:
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production the act of producing; creation; manufacture. something that is produced; a product. Economics. the creation of value; the producing of articles having exchange value. the total amount produced: Production is up this month. a work of literature or art.
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- DEFINITION of 'Production Efficiency'. 1. An economic level at which the economy can no longer produce additional amounts of a good without lowering the production level of another product.This will happen when an economy is operating along its production possibility frontier.2.The ability to produce a good using the fewest resources possible.. An economic level at which the economy can no longer produce additional amounts of a good without lowering the production level of another product. This will happen when an economy is operating along its production possibility frontier. 2. The ability to produce a good using the fewest resources possible.
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ODLIS Full Definition of PRODUCTION. 1. a: something produced: product b (1) : a literary or artistic work (2) : a work presented to the public (as on the stage or screen or over the air) c: something exaggerated out of proportion to its importance. 2.ull Definition of PRODUCTION. 1. a: something produced: product b (1) : a literary or artistic work (2) : a work presented to the public (as on the stage or screen or over the air) c: something exaggerated out of proportion to its importance. 2.
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economics productivity - (economics) the ratio of the quantity and quality of units produced to the labor per unit of time. economic science, economics, political economy-the branch of social science that deals with the production and distribution and consumption of goods and services and their management.
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The Production Function In economics, a production function relates physical output of a production process to physical inputs or factors of production.
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means of production Contemporary definitions for means of production Expand. noun. in Marxism, the aggregate natural resources needed of a society or country for manufacturing; the productive capacity of these resources. Examples. The means of production form the economic basis of a society.