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The growth of manufacturing industries is one of the key sectors in helping to mitigate global recessions. Productivity Growth in the Manufacturing Sector thoroughly discusses issues and potential remedies of this sector for a range of international countries.
1.1 Production: Cost of production is the deciding factor for supply which depends upon prices of raw materials and its physical relation between input and output. It is the physical relation between input and output which determines the cost of production. Production represents functional relationship between quantities of inputs and amount of output produced. Production is an economic activity. Production is used for an activity of making some material. In economics, production is used in a wider sense. 1.2 Importance of Production: Price theory plays an important role in the theory of production. This provides a base for analysis of relationship between costs and amounts of output. Cost along with demand and supply of a product determine the price of a product. Cost of production is determined by the prices of inputs of production and thereby the price of product. Secondly, the basis of theory of firm demand for factors of production is theory of production. The theory of production plays a pivotal role in theory of firm. The theory of firm deals with the level of output whichwill produce in turn the maximum profits. The firm’s marginal and average costs of production decide the profits maximizing output besides the demand conditions. In addition to the prices of inputs, the changes in marginal and average costs of production as a result of increase in output are determined by the physical relationship between inputs and output.
The importance of industrialization as a means of achieving rapid growth and prosperity has long been recognized in the thinking on development strategy for India; but the country's industrial potential has been far from fully exploited.
This report presents data on coal consumption, distribution, coal stocks, quality, prices, coal production information, and emissions for a wide audience.