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From inputs to outputs

From inputs to outputs

Flow diagram of land, labour, capital and enterprise entering a firm, then output, with a comparison showing that higher output does not always mean higher labour productivity Production is the process of turning inputs into outputs. Inputs are resources such as land, labour, capital and enterprise, while outputs are the goods or services a firm produces.

1.4.1 Production and productivity Lesson

  1. A Level
  2. /Economics
  3. /1.4.1 Production and productivity