Communication

4 relations: Production (economics), Production function, Productivity, Standard cost accounting.

Production (economics)

Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output).

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Production function

In economics, a production function relates quantities of physical output of a production process to quantities of physical inputs or production function refers as the expression of the technological relation between physical inputs and outputs of the goods.

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Productivity

Productivity describes various measures of the efficiency of production.

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Standard cost accounting

Standard cost accounting is a traditional cost accounting method introduced in the 1920s, as an alternative for the traditional cost accounting method based on historical costs.

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References

[1] https://en.wikipedia.org/wiki/Productivity_model

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