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What is total production?

Updated: 8/17/2019
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Wiki User

8y ago

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For this reason it is perfectly possible to impress upon each product how many labour-hours its production has cost. There are, of course, certain installations which produce no tangible product, such as the social and economic councils, the health service, education and so on; but these also are just as well able to determine how many labour-hours in means of production and labour-power they have consumed, so that here also the costs of reproduction can be exactly revealed.

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16y ago
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9y ago

Total Productivity is actually referred to as Total Factor Productivity. It is the portion of output not explained by the amount of inputs used in the production process.

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