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P. 1
Basic Production Economics

Basic Production Economics

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Categories:Types, School Work
Published by: frances leana capellan on Feb 12, 2009
Copyright:Attribution Non-commercial

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09/19/2012

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UNIT 2: BASIC PRODUCTIONECONOMICS
Theme 2: Production decisions
 
 
Production function analysis
Planning is the managerial task dealing with:
purposeful deliberation on the futureobjectives of a business or a sectionthereof;
the means and activities involved therein;
the problems that may be experienced;and
the formulation of the most suitable planof action for the effective attainment of those objectives
.
 
 
Questions which should beasked in the planning process:
What are the objectives?
What must be done to achieve them?
Why are specific actions necessary?
Who must take action?
Where should action take place?
What means will be necessary; and
How should action be undertaken toachieve the best results?

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