Podcast
Questions and Answers
What do economists refer to as outputs?
What do economists refer to as outputs?
Products or services that firms produce and can sell profitably.
What are the inputs that economists refer to?
What are the inputs that economists refer to?
Materials, labor, land, and equipment firms use to produce outputs.
Give an example of the materials Dell uses to produce personal computers.
Give an example of the materials Dell uses to produce personal computers.
Memory chips, hard drives, shipping boxes.
What is the focus when considering a firm that produces just one product?
What is the focus when considering a firm that produces just one product?
Why do firms try to produce products or services that they can sell profitably?
Why do firms try to produce products or services that they can sell profitably?
What are the various inputs that Dell uses to produce personal computers?
What are the various inputs that Dell uses to produce personal computers?
What is the focus when considering a firm that produces just one product?
What is the focus when considering a firm that produces just one product?
What are the basic lessons that apply more generally to firms producing multiple products?
What are the basic lessons that apply more generally to firms producing multiple products?
Why do firms try to produce products or services that they can sell profitably?
Why do firms try to produce products or services that they can sell profitably?
What do economists refer to as outputs?
What do economists refer to as outputs?
