productive inputs

The long-run average cost curve depicts the cost per unit of output in the long run-that is, when all productive inputs' usage levels can be varied.

For example, if consumers demand for new cars rose, producers will respond by increasing their demand for the productive inputs or resources used to produce new cars.

Depending on the relative scarcity of land and labor, technical change embodied in new and more productive inputs may be induced primarily either (a) to save labor or (b) to save land."

More precisely, it refers to a particular type of aggregator function which combines two or more types of consumption, or two or more types of productive inputs into an aggregate quantity.

Theory and observation set out the conditions such that market prices of outputs and productive inputs select an allocation of factor inputs by comparative advantage, so that (relatively) low-cost inputs go to producing low-cost outputs.

Systemic undersupply was caused in STP because of the use of "material balances" (plans for the balanced production and consumption of goods and productive inputs), which are theoretically possible, but practically impossible to produce because planners cannot acquire enough information to craft them accurately.