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Question : Production function explains the relationship between:

Option 1: initial inputs and ultimate output

Option 2: input and ultimate consumption

Option 3: output and consumption

Option 4: output and exports


Team Careers360 11th Jan, 2024
Answer (1)
Team Careers360 21st Jan, 2024

Correct Answer: initial inputs and ultimate output


Solution : The correct answer is initial inputs and ultimate output .

The link between inputs (such as labour, capital and raw materials) and the creation of goods and services is described by a production function. The production function illustrates the various ways that inputs can be combined to produce commodities and services.

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