Production is a process of combining various inputs to produce an output for consumption. It is the act of creating output in the form of a commodity or a service which contributes to the utility of individuals.

Theory of Production - Applied Economics

In this “Theory of Production - Applied Economics” you will learn about following topics:

  1. Producer Equilibrium
  2. Cost Minimization
  3. Output Maximization
  4. Cobb-Douglas Production Function
  5. Properties of Cobb-Douglas Production Function
  6. Importance of Cobb-Douglas Production Function

==== Point to Note ====

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BCA 6th Semester Applied Economics Notes Pdf:

  1. Unit I: Introduction Of Economics - Applied Economics
  2. Unit II: Theory Of Consumer Demand - Applied Economics
  3. Unit III: Analysis Of Cost And Revenue - Applied Economics
  4. Unit V: Product Pricing - Applied Economics
  5. Unit VI: Factor Pricing - Applied Economics
  6. Unit VII: National Income - Applied Economics
  7. Unit VIII: Theory Of Employment - Applied Economics
  8. Unit IX: Consumption Saving And Investment Functions - Applied Economics
  9. Unit X: Business Cycle - Applied Economics
  10. Unit XI: The Mechanism Of Foreign Exchange - Applied Economics
  11. Unit XII: Macro Stabilizing Policies - Applied Economics
  12. Unit XIII: Economics of Development - Applied Economics