Economics Dictionary of ArgumentsHome
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| Production theory: Production theory in economics examines the processes and principles behind transforming inputs (like labor, capital, and resources) into outputs (goods or services). It explores factors influencing production efficiency, optimal resource allocation, technology's impact on output, and the relationships between inputs and outputs within various production frameworks, guiding decision-making for firms and industries._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Neoclassical Economics on Production Theory - Dictionary of Arguments
Mause I 54 Production Theory/Neoclassics: Production theory deals with the question of how companies should produce. Marginal value analysis plays a central role here, as it was used to derive the theory of marginal productivity. This is based on the assumption of decreasing marginal yields and states that profit-maximizing companies will use every production factor (i.e. labour, land and capital) to the extent that the product of marginal yield (or marginal productivity) and price of the goods produced is equal to the factor price (i.e. wage). >Marginal return, >Marginal utility, >Marginal costs, >Neoclassical economics._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Neoclassical Economics Mause I Karsten Mause Christian Müller Klaus Schubert, Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018 |
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