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The Historical Role of the Production Function in Economics and Business
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Gordon, David; Vaughan, Richard – American Journal of Business Education, 2011
The production function explains a basic technological relationship between scarce resources, or inputs, and output. This paper offers a brief overview of the historical significance and operational role of the production function in business and economics. The origin and development of this function over time is initially explored. Several…
Descriptors: Economics, Economics Education, Business Administration Education, Role Perception