What are the three stages of production?
Understand the Problem
The question is asking for an explanation of the three stages involved in the production process in economics or manufacturing, which typically refers to the transformation of raw materials into finished goods.
Answer
Increasing returns, decreasing returns, and negative returns.
The three stages of production in economics are increasing returns, decreasing returns, and negative returns.
Answer for screen readers
The three stages of production in economics are increasing returns, decreasing returns, and negative returns.
More Information
In economics, these stages describe how the output of a production process changes with varying input levels.
Tips
A common mistake is to confuse the economic stages of production with stages in film production, which are pre-production, production, and post-production.
Sources
- The Three Stages Of Production - FasterCapital - fastercapital.com
- What are the 3 stages of production in economics? - Quora - quora.com
AI-generated content may contain errors. Please verify critical information
