Aggregate Production Functions
In macroeconomics, aggregate production functions for whole nations are sometimes constructed. In theory they are the summation of all the production functions of individual producers; however there are methodological problems associated with aggregate production functions, and economists have debated extensively whether the concept is valid.
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Famous quotes containing the words aggregate, production and/or functions:
“The aggregate of all knowledge has not yet become culture in us. Rather it would seem as if, with the progressive scientific penetration and dissection of reality, the foundations of our thinking grow ever more precarious and unstable.”
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“Those things which now most engage the attention of men, as politics and the daily routine, are, it is true, vital functions of human society, but should be unconsciously performed, like the corresponding functions of the physical body.”
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