What is the theory of production?
Answer:
the question is so small, but the answer so complicated
production is measured as a “rate of output per period of time”, i dont know what to say, so, "A production process can be defined as any activity that increases the similarity between the pattern of demand for goods, and the quantity, form, and distribution of these goods available to the market place."
I don't know the academic answer to this question but I will give you my opinion.{?}
The more goods or products that are produced ""And have value to others"" that can be exchanged to buyers for something of equal value to the producers, usually money of some type, the wealthier the producers become.
If production slows or stops for any reason the wealth intake slows or stops affecting all the workers producing the wealth. {lay-offs}
A country is in trouble when it consumes much more than it produces, in my humble opinion.
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Energy comes in ====>> Production comes out.
A relevant formula for our days.
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