Definition
Inputs are resources used to produce goods and services.
Why It Matters
The cost and availability of inputs affect production and prices.
Example
Labor, raw materials, and machinery used in manufacturing.
Malone Global University
Malone Global University
Economics Glossary – Malone Global University
Inputs are resources used to produce goods and services.
The cost and availability of inputs affect production and prices.
Labor, raw materials, and machinery used in manufacturing.