Examlex
The production possibilities frontier is a graph that shows the various combinations of output that an economy can possibly produce given the available factors of production and
Constrained Resource
A limited resource within a production process that can restrict the output or efficiency of the manufacturing operations.
Constrained Machine
A resource in the manufacturing process that limits the total output because it has the lowest capacity of any of the resources.
Joint Production Process
A manufacturing operation that simultaneously produces two or more outputs from a common input or process.
Split-off Point
The stage in a production process where multiple products are generated from a common input, and each product can then be sold or processed further.
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