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  2. For example, in the production of wheat, the use of land, seed, fertilizer water, pesticides, tractors, labour etc. are inputs and wheat is output.
    nios.ac.in/media/documents/SrSec318NEW/318_E…
    Imagine a clothing manufacturing company PRQ Ltd, that produces a range of apparel products. The company wants to apply production economics to optimize its production processes and improve efficiency. The company’s objectives could include reducing production costs, improving production output, and enhancing product quality.
    www.wallstreetmojo.com/production-economics/
    Here is a production function example to understand the concept better. Let us consider a famous garments company that produces the latest designer wear for American customers. It requires three types of inputs for producing the designer garments: cloth, industrial sewing machine, and tailor as an employee.
    www.wallstreetmojo.com/production-function/
     
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  4. WEBThe factors of production in an economy are its labor, capital, and natural resources. Labor is the human effort that can be applied to the production of goods and services. People who are employed or would like to be are …

  5. WEBThe four main factors of production are: Land – this is raw materials available from mining, fishing, agriculture. Capital – This is a manufactured item used to aid production, for example, machines, factories and …

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