Meaning Team production
What does Team production mean? Here you find 2 meanings of the word Team production. You can also add a definition of Team production yourself
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Team productionAlchian and Demsetz's distinguishing characteristic of a firm . Team output is greater than the sum of outputs of individual team members working independently (synergy); increased output cannot be unambiguously attributed to any individual team member.
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Team productionDefined by Alchian and Demsetz (1972) this way: "Team pproductive activity is that in which a union, or joint use, of inputs yields a larger output than the sum of the products of the separat [..]
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