answersLogoWhite

0


Best Answer

Total product is the technological knowledge that determines the relationship between combinations of inputs and the maximum possible output that can be produced using them.

eg. the total product of 5 units of labour and 2 units of capital is 8 units of a particular good

User Avatar

Wiki User

14y ago
This answer is:
User Avatar
More answers
User Avatar

AnswerBot

1mo ago

Total product refers to the total output or quantity of goods or services produced by a firm using a specific combination of inputs (such as labor and capital) within a given period of time. It represents the overall level of production achieved by a firm.

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is the definition of total product?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the best definition of gross domestic product?

Gross Domestic PRoduct is the total amount of money per year


What is the definition of gross domestic products?

Gross Domestic PRoduct is the total amount of money per year


What is the definition of product usage?

The definition of product usage is how a consumer uses a certain product. This is done by testing a product.


Definition of total product?

Total product refers to the overall quantity of output produced by all units of a factor of production (such as labor or capital) over a specific period of time. It measures the total output generated by a given level of input.


Define total product?

It is a product that is total


What is the marketing definition of a product map?

The marketing definition of a product map is the strategy that will be employed so as to push a product into the market. This is also defined as perceptual mapping.


What is the definition of Level of sales?

i think level of sales is that total unit of product in manufacturing company. it mostly use to calculate a break even unit.


Definition of product in math terms?

The definition of a product is the outcome number of two or more numbers that have been multiplied by each other.


What is the product of a number and its recprocal?

The product of a number and its reciprocal is always 1 - by definition.


What is Total Product Cost?

total product that needs to sell to cover total costs


What is the definition of a niche product?

A Niche Product is the product that is accurately fashioned to foregather the requirements of that primary segment.


Definition of product presentation?

sterling adgate