Micro 13 - Production and Productivity
This handout looks at the importance of prod_u ction, productivity and the key differences between both.
~ Before we do that, we must discuss the importance ofproducers in a market economy.
~
The role of producers is to:
• 'P,<?chJCSL ~oac\~ con~u~S
,.
wGll b~
h cMs ,. ~over(\(YU()\.'.') o < \_5\0-A v ·l dA..o.ls
.SP,ocl.u avs.
, Before we move on, it's imp orta nt that we
define som e technical term s to avoid any
confusion.
De fin itio n: Pro duc tio n
.
-t\r\e MC L\. u~ . a 3o cd s o.11cl 32.J"V ld! .S .
~
De fin itio n: Pro du ctiv ity
O u\- pv r pe.r LA.) 0 ~ t.n o. rer,cd of tuY U- .
Why is®"odu ctio 1 imp orta nt to firms?
\~ o_ Uc ~~ -Pi,MS t.0 ~
~
°' p,oj \t,
This handout looks at the importance of prod_u ction, productivity and the key differences between both.
~ Before we do that, we must discuss the importance ofproducers in a market economy.
~
The role of producers is to:
• 'P,<?chJCSL ~oac\~ con~u~S
,.
wGll b~
h cMs ,. ~over(\(YU()\.'.') o < \_5\0-A v ·l dA..o.ls
.SP,ocl.u avs.
, Before we move on, it's imp orta nt that we
define som e technical term s to avoid any
confusion.
De fin itio n: Pro duc tio n
.
-t\r\e MC L\. u~ . a 3o cd s o.11cl 32.J"V ld! .S .
~
De fin itio n: Pro du ctiv ity
O u\- pv r pe.r LA.) 0 ~ t.n o. rer,cd of tuY U- .
Why is®"odu ctio 1 imp orta nt to firms?
\~ o_ Uc ~~ -Pi,MS t.0 ~
~
°' p,oj \t,
