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  2. Economic system - Wikipedia

    en.wikipedia.org/wiki/Economic_system

    An economic system is a type of social system. The mode of production is a related concept. [2] All economic systems must confront and solve the four fundamental economic problems: What kinds and quantities of goods shall be produced: This fundamental economic problem is anchored on the theory of pricing.

  3. Production (economics) - Wikipedia

    en.wikipedia.org/wiki/Production_(economics)

    The production function is a graphical or mathematical expression showing the relationship between the inputs used in production and the output achieved. Both graphical and mathematical expressions are presented and demonstrated. The production function is a simple description of the mechanism of income generation in production process.

  4. Methods of production - Wikipedia

    en.wikipedia.org/wiki/Methods_of_production

    Job production is used when a product is produced with the labor of one or few workers and is rarely used for bulk and large scale production. It is mainly used for one-off products or prototypes (hence also known as Prototype Production), as it is inefficient; however, quality is greatly enhanced with job production compared to other methods ...

  5. Production system - Wikipedia

    en.wikipedia.org/wiki/Production_system

    Production system (computer science), a program used to provide some form of artificial intelligence; Production systems, in operations management and industrial engineering; Subsea Production Systems, typically wells located on the seafloor; Toyota Production System, organizes manufacturing and logistics at Toyota

  6. Outline of production - Wikipedia

    en.wikipedia.org/wiki/Outline_of_production

    Production – act of creating 'use' value or 'utility' that can satisfy a want or need. [1] The act may or may not include factors of production other than labor. Any effort directed toward the realization of a desired product or service is a "productive" effort and the performance of such act is production.

  7. Factors of production - Wikipedia

    en.wikipedia.org/wiki/Factors_of_production

    Labor, not labor power, is the key factor of production for Marx and the basis for earlier economists' labor theory of value. The hiring of labor power only results in the production of goods or services ("use-values") when organized and regulated (often by the "management"). How much labor is actually done depends on the importance of conflict ...

  8. Manufacturing - Wikipedia

    en.wikipedia.org/wiki/Manufacturing

    Production of the Ford Model T used 32,000 machine tools. [36] Lean manufacturing, also known as just-in-time manufacturing, was developed in Japan in the 1930s. It is a production method aimed primarily at reducing times within the production system as well as response times from suppliers and to customers.

  9. Factory system - Wikipedia

    en.wikipedia.org/wiki/Factory_system

    Reconstructed historical factory in Žilina for production of safety matches.Originally built in 1915 for the firm Wittenberg and Son.. The factory system is a method of manufacturing whereby workers and manufacturing equipment are centralized in a factory, the work is supervised and structured through a division of labor, and the manufacturing process is mechanized.