what are the inputs of production
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Production means a transformation of inputs into outputs by any physical process..
Following are the inputs in production :
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1 ) Labour
2) Raw materials
3) Plants and Machinary
4 ) Land
These are also called the factors of production functions..Production function is the functional relatiship between physical inputs and physical outputs...
Production Function is denoted as follow
Qx = f ( L , K )
Where Qx = production function
L = Labour ( Variable factor )
K = capital ( Plants , Land etc.. fixed factor)
Following are the inputs in production :
==================================
1 ) Labour
2) Raw materials
3) Plants and Machinary
4 ) Land
These are also called the factors of production functions..Production function is the functional relatiship between physical inputs and physical outputs...
Production Function is denoted as follow
Qx = f ( L , K )
Where Qx = production function
L = Labour ( Variable factor )
K = capital ( Plants , Land etc.. fixed factor)
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