Production

Production

In the context of project financing, a defined portion of the proceeds of production up to a dollar amount.

Production

1. The process of turning raw material into a product that is sold. For example, a company's production may involve turning silver, zinc, and mercury into a dental filling.

2. Less commonly, the revenue one derives from production.

production

the act of combining FACTORS OF PRODUCTION (labour, capital, etc.) by FIRMS to produce OUTPUTS of goods and services. The relationship between inputs and outputs in physical terms is shown by the PRODUCTION FUNCTION and in cost terms by the COST FUNCTION. See BATCH PRODUCTION, MASS PRODUCTION, FLEXIBLE MANUFACTURING SYSTEM.