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is the following a good defintions of Production function - The input-output relationship between resources and their product. Most resources can produce a variety of
is the following a good defintions of Production function - The input-output relationship between resources and their product. Most resources can produce a variety of products, in addition many resources can be substituted for one another in production. The characteristics between resources and the products can be easily verified. All of these resources can be demonstrated by changing the quality of the product and observing the quantity of the product. When one resource is reduced in quantity and increased, another resource prevents a decrease in the quantity of output these two resources substitute for one another. These characteristics show that the output results from the specific set of resources used in some "functional" way. This is known as a production function
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