Organizations Can Develop Performance Programs to Standardize Their Inputs, Their

question 10

True/False

Organizations can develop performance programs to standardize their inputs, their conversion process, and their outputs.

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Definitions:

Production Functions

Mathematical relations stipulating how output levels are achieved with different combinations of input factors such as labor and capital.

Input

Refers to the resources used in the production of goods and services, such as labor, raw materials, and capital.

Returns To Scale

The change in output as all inputs are increased proportionally in the production process.

Inputs

The resources such as labor, materials, and capital that are used in the production process to create goods and services.