Production Technologies and Inputs/Outputs Quiz

Products or services that firms produce and can sell profitably.

Materials, labor, land, and equipment firms use to produce outputs.

Memory chips, hard drives, shipping boxes.

<p>The basic lessons that apply more generally to production.</p> Signup and view all the answers

<p>To generate profit and sustain their business operations.</p> Signup and view all the answers

<p>Materials (memory chips, hard drives, shipping boxes), capital equipment (conveyor belts, testing equipment, trucks), labor (computer assemblers, advertising executives, truck drivers), and land (for its factories)</p> Signup and view all the answers

<p>The simpler case in which a firm produces just one product</p> Signup and view all the answers

<p>The basic lessons apply more generally</p> Signup and view all the answers

<p>Firms try to produce products or services that they can sell profitably in order to make a profit</p> Signup and view all the answers

<p>Products or services that firms produce and can sell profitably</p> Signup and view all the answers