Production function as a way for the economic research Improvement

Authors

  • B. Ye. Hrabovetskyi
  • O. V. Moroz
  • L. M. Savchuk

Keywords:

production function, economic analysis, forecasting activity, chain substitutions, productive (researched) index, factors, production function of cobb-douglas, co-factors, causal relationship, correlation ratio, determination coefficient, f-criterion of fisher, d-statistics, multicollinearity, auto correlation, coefficient of elasticity, absolute return, marginal rate of substitution, strategic analysis

Abstract

The paper evaluates the further prospects of mathematical methods’ application to the economics. In particular, there had been considered the production function as the specific economic and statistical model, mapping the production output dependence on the production factors, as well as the economic essence of the production functions’ parameters along with their interpretation. There had also been suggested the methodics for conducting the economic analysis and forecasting activity procedure, based upon the production function. The suggested procedure of economic researches is tested on the basis of the economic background of Vinnytsia Oil and Fat Plant.

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Published

2010-11-12

How to Cite

[1]
B. Y. Hrabovetskyi, O. V. Moroz, and L. M. Savchuk, “Production function as a way for the economic research Improvement”, Вісник ВПІ, no. 2, pp. 12–25, Nov. 2010.

Issue

No 2 (2006)

Section

Economics, management and ecology

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