Abstract
While individual firms may differ in their objectives the main activity of all firms is the production of commodities — either goods or services. The production activity consists of a variety of tasks and operations of varying complexity depending on the nature of the product and the size of the firm.
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Further reading
A. Koutsoyiannis, Modern Microeconomics, 2nd ed. (London: Macmillan, 1979) chap. 3.
J. M. Heineke, Microeconomics for Business Decisions: Theory and Applications (Englewood Cliffs, N.J.: Prentice-Hall, 1976) chaps. 3 and 4.
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© 1979 Julian Gough and Stephen Hill
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Gough, J., Hill, S. (1979). Production. In: Fundamentals of Managerial Economics. Palgrave, London. https://doi.org/10.1007/978-1-349-16225-3_8
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DOI: https://doi.org/10.1007/978-1-349-16225-3_8
Publisher Name: Palgrave, London
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