Definition of Production function:
A mathematical equation or graph that shows the relationship between physical inputs and physical outputs for a business. The production function for a business typically focuses on the physical and so does not take into account non physical aspects of production like prices.
How to use Production function in a sentence?
- You should always be able to access the production function quickly to try and spot any leaks your business may have,.
- The production function was presented during the team meeting to illustrate the process that we all contribute to in an artistic manner.
- If you want to put out a lot of your product quickly you should know the production function and how to best utilize it.
Meaning of Production function & Production function Definition