All of the Following Are Inputs to the Aggregate Production

question 62

Multiple Choice

All of the following are inputs to the aggregate production planning process except

• A)demand forecasts.
• B)financial constraints.
• C)sales plans.
• D)capacity constraints.

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Definitions:

Labor

The human effort, both physical and mental, used in the production of goods and services.

Capital

Economic resources or assets used in the production of goods and services, such as machinery, buildings, or tools.

Marginal Product

The additional output resulting from the use of one more unit of a production input, holding other inputs constant.

Factor Market

A marketplace for the services of a factor of production, such as labor, capital, or land, essential for production processes.