production function

Definition

A mathematical equation or graph that shows the relationship between physical inputs and physical outputs for a business. The production function for a business typically focuses on the physical and so does not take into account non physical aspects of production like prices.

Use production function in a sentence

  • You should always be able to access the production function quickly to try and spot any leaks your business may have,.

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  • The production function was presented during the team meeting to illustrate the process that we all contribute to in an artistic manner.

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  • If you want to put out a lot of your product quickly you should know the production function and how to best utilize it.

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