Production function flashcard sets

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production function definitions
# Definition Sets
1the relationship between quantity of inputs used to make a good and the quantity of output of that good7 sets
2relationship between inputs and outputs4 sets
3a concept that describes the relationship between changes in output to different amounts of a single input while other inputs are held constant.3 sets
4relationship b/w q of inputs used and q of outputs2 sets
5graphic portrayal showing how a change in the amount of a single variable input affects total output2 sets
6a technological relationship between inputs and outputs2 sets
7volume of outputs that can be produced from given inputs given the available technology2 sets
8the relationship between quantity of inputs used to make a good and the quanitity of output of that good2 sets
9a technological relationship between inputs and output2 sets
10the mechanism for combining production resources, with existing technology, into finished goods and services1 set
11the relationship between the quantity of inputs used to make a good and the quantity of output of that good1 set
12shows how inputs (capital and labor) are combined to produce various levels of outputs (capital per worker)1 set
13relationship between inputs used in production and level of output1 set
14numerical or mathematical relationship between inputs and outputs (units of total product as a function of units of inputs)1 set
15shows input requirements for each level of production1 set
16a figure that shows how a total output changes when the amount of a single variable input changes while other inputs are held constant.1 set
17relationship between quantity of inputs used to make good and quantity of output1 set
18shows the volume of output that can be produced from given inputs (such as labor and capital), given the available technology.1 set
19the relationship between the quantities of inputs used and the maximum quantity of output that can be produced, given current knowledge about technology and organization1 set
20the relationship between inputs and outputs1 set
21the relationship between the firm's input of productive resources and its output of goods and services1 set
22a concept that describes the relationship between chances in output while other inputs are held consistent1 set
23a technological relationship between inputs and outputs.1 set
24the relationship between the inputs (factors of production) and outputs1 set
25an equation that defines the combination's of goods you can produce (physical output) given you production inputs (resources)1 set
26the relationship that describes output as a function of labor, capital, and technology1 set
27the development of services is an example of the1 set
28describes the relationship between changes in output to different amounts of single input while other inputs are held constant1 set
29a concept that describes the relationship between changes in output to different amounts of a single input while other inputs are held constant1 set
30specifies the maximum output firms can produce with given quantities of inputs1 set
31the quantity of output produced by the firm each period is a function of the quantities of land, labor, and capital used by the firm in the production process1 set
32a function that shows the relationship between quantity of input used to make a good and quantity of output of that good1 set
33the relationship between the inputs employed by a firm and the maximun output it can produce with those inputs1 set
34the technical relationship between inputs and outputs indicating that max amount of output that can be produced using alternative amounts of variable inputs in combination with one or more fixed imputs under a given state of technology1 set
35a concept that describes the relationship between changes in output to different amounts of a single input1 set
36the relationship between quantities of inputs used to make a good and the quantity of output of that good1 set
37tells how much output the economy can produce from the available labor and capital givin the state of technology1 set
38a numerical or mathematical expression of a relationship between inputs and outputs. it shows units of total product as a function of units of inputs.1 set
39relates output changes to differences in a single input1 set
40a functional relation showing the maximum output that can be produced by each and every combination of inputs1 set