Written by the Fiveable Content Team • Last updated September 2025
Verified for the 2026 exam
Verified for the 2026 exam•Written by the Fiveable Content Team • Last updated September 2025
Definition
Units produced refers to the number of items manufactured or created in a given period. It quantifies output and directly corresponds to both revenue and costs in most cases.
Related terms
Average Cost: The cost per unit of production, calculated by dividing the total cost by the number of units produced.
Total Revenue: The overall income generated from selling a specific quantity of goods or services.
Economies of Scale: A phenomenon where costs decrease as production levels increase due to factors like bulk purchasing or improved efficiency.