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What is aim of production?

Updated: 9/15/2023
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14y ago

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The main aim of prodution is profit as the manufacturing compnies just aims for profit.

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14y ago
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What can the term of economic research produce?

Economic well-being is created in a production process, meaning all economic activities that aim directly or indirectly to satisfy human needs


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Entrepreneurship is important beacause they organise, coordinate and manage all the other factors of production-land labour and capital, they take risk in aim of making a profit which is vital for a developing economy.


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Supply is the quantity of a good or service that a producer is willing and able to supply onto the market at a given price in a given time period.Cost business aim to maximise profit and reduce cost.Therefore an increase in production cost will result in a shift along the supply curve because the firm might not be able to supply as much at the same price. Resulting in a decrease in quantity supplied


What is the production function and types of production function?

production function is relation between firm's production and material factors of production

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