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Production, costs, and pricing

From Academic Kids

See also: record producer.

In microeconomics, production is the act of making things, in particular the act of making products that will be traded or sold commercially. Production decisions concentrate on what goods to produce, how to produce them, the costs of producing them, and optimizing the mix of resource inputs used in their production. This production information can then be combined with market information (like demand and marginal revenue) to determine the quantity of products to produce and the optimum price to charge.

(In macroeconomics, production is measured by gross domestic product and other measures of national income and output.)

Aspects of production and pricing theory

See also

microeconomics, Important publications in production theory

Topics in microeconomics

Edit (http://en.wikipedia.org/w/wiki.phtml?title=MediaWiki:Microeconomics-footer&action=edit)
Scarcity | Opportunity cost | Supply and demand | Elasticity | Economic surplus | Aggregation of individual demand to total, or market, demand | Consumer theory | Production, costs, and pricing | Market form | Welfare economics | Market failure
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de:Produktion et:Tootmine id:Produksi nl:Productie ja:生産

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