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Definition from Financial Times Lexicon:
When someone produces all the things they need using their own efforts and skills, without the advantages of specialization (concentrating on producing only one product) or the division of labour (using different people to do different jobs). Direct production is more an economic model than a real production method.
What else can I help you with?
What is the definition of hog production?
Raising pigs.
What is the definition of classical theory of production?
The definition of the classical theory of production is defined by Adam Smith and involves 3 factors of production; land, labor, and capital. With the passage of time the size of the market will increase, which will lead to both internal and external economies of scale, which will eventually lower down the cost of production.
What is the definition of production of goods?
the action of making or manufacturing from components or raw materials
What is Input cost of supply?
cost of direct material, direct labor, and other overhead items devoted to the production of a good or service.
What is direct and indirect production in economics?
Oh, dude, direct production in economics is when goods and services are produced for immediate consumption, like making a sandwich to eat. Indirect production is when goods are produced to be used in the production of other goods, like growing wheat to make flour for the bread in that sandwich. It's all about that chain of production, man.
What is the definition of direct cost?
These are those costs which are necessar for production of goods and without these costs it is not possible to manufacture units of producs to be sold.
What are the advantages of direct production?
i dont known
What is the definition of direct?
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What is the definition of direct proportion?
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Which answer best explains why the discovery of alternative splicing forced biologists to change their definition of a gene?
It showed that a gene can direct the production of more than one polypeptide or RNA.
What is the definition for direct monarchy?
a monarchy ruled by a direct monarch.
Difference between direct cost and direct costing?
Direct cost is that cost which is directly identifiable with production volume while direct costing is the method or process through which direct cost is allocated to production.
Pattern of direct and indirect speech?
definition direct and indirect statement
What is the differences between Fixed Direct labor with variable direct labor?
Direct labor which do not vary with level of production is fixed direct labor while labor vary with change in production is variable direct labor.
What is the definition of heat production?
Thermogenesis
What type of cost is direct labor?
direct labor is direct cost attributable to production of goods.
What budgets are included in a production budget?
The production budget needs to be exploded into budgets for direct material, direct labor, and manufacturing overhead.
