Explain the difference between primary and an intermediate input in relation to production function.

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Explain the difference between primary and an intermediate input in relation to production function.

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Answer 1

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Anything that is used in producing a commodity can be termed as input.

Primary inputs refer to the factors of production . land, labor, capital and entrepreneur are considered as the primary inputs.

Whereas intermediate inputs refer to the semi finished goods that are used in the production of another good. For ex. Sugar acts as an intermediate good when used in the production of chocolates.

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Explain the difference between primary and an intermediate input in relation to production function.

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