The production function is a useful tool for analyzing the process of economic growth.

A production
function relates the inputs of the production process such as labor (L) and capital (K), to the
output/income (Y) from the process.

Y=f(K, L)

In Latin a priori means “what comes first.” A priori understandings are the assumptions that come
before the rest of the assessment, argument, or analysis. If you are making an argument that pre-
school children who are read to at home by family members come to school better prepared to learn,
the a priori understanding is that children learn by hearing before they are able to read.

The Cobb-Douglas production function represents the relationship between two or more
inputs - typically physical capital and labor - and the number of outputs that can be produced.

Linear programming, mathematical modeling technique in which a linear function is

maximized or minimized when subjected to various constraints. This technique has been useful
for guiding quantitative decisions in business planning, in industrial engineering, and—to a
lesser extent—in the social and physical sciences.

Complementary inputs are fertilizers, pesticides, assured supply of water, adequate non-usurious credit
and others.

An exchange rate regime is the system that a country's monetary authority, -generally the
central bank-, adopts to establish the exchange rate of its own currency against other
currencies