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"If It Walks Like a Duck,and Quacks Like a Duck,it

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"If it walks like a duck,and quacks like a duck,it must be a duck..." This expression best captures the essence of the


Definitions:

Production Techniques

Methods and processes used in the transformation of inputs into outputs or goods and services by a firm.

Widgets

A generic term often used to describe an unspecified or hypothetical manufactured product.

Labor

The use of mental and physical capabilities in the creation of products and services.

Efficient

Describes a system or process that achieves maximum productivity with minimum wasted effort or expense.

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