Theory of Production

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Across
  1. 4. becoming smaller, weaker, or less important over time
  2. 6. companies can make informed decisions to improve their ____
  3. 8. There are 3 ____of Production.
  4. 10. In Stage ___ of production, each additional worker tends to increase production.
Down
  1. 1. The theory of____________ helps companies determine the most efficient way to produce goods in order to be profitable.
  2. 2. the ability to do something well with minimum waste of time, effort, or resources
  3. 3. to make the best or most effective use of something
  4. 5. Businesses adjust the number of _____ they employ based on the output of production
  5. 7. In this stage, Adding more workers does not increase output, and the company experiences diminishing returns
  6. 9. In this stage, production output continues to rise, but at smaller increments