Difference between revisions of "Aggregate production function"
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==Definition== | ==Definition== | ||
According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
| − | [[Aggregate production function]]. The process of an economy as a whole turning economic input like labor, machinery, and raw material into output like goods and services used by consumer. | + | :[[Aggregate production function]]. The process of an economy as a whole turning economic input like labor, machinery, and raw material into output like goods and services used by consumer. |
[[Category: Economics]][[Category: Articles]] | [[Category: Economics]][[Category: Articles]] | ||
Latest revision as of 00:57, 31 May 2020
Aggregate production function is the process of an economy as a whole turning economic input like labor, machinery, and raw material into output like goods and services used by consumer.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Aggregate production function. The process of an economy as a whole turning economic input like labor, machinery, and raw material into output like goods and services used by consumer.
