Examlex
What is a collection of fields that contain data about an entity?
Production Function
A formula detailing how input factors like raw materials and labor are turned into output or goods.
Inputs
Inputs like workforce, raw materials, and funds that are employed in the manufacturing process to produce products or services.
Output
The total amount of goods or services produced by a business, industry, or country.
Isoquant
A curve representing all combinations of inputs that produce the same level of output, used in the analysis of production decisions.
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