Production Process
Consider one of your household activities (e.g., cooking, cleaning, lawn work) as a production process.
First, identify the inputs and steps in providing this good or service, and briefly discuss the opportunity cost of doing it yourself relative to hiring someone to do it.
Then, describe the role that diminishing returns or economies of scale play in this activity, as well as the prospect of technological change that might influence this process or home provision of the good. Cite your work with at least 1 creditable source.
Solution Preview
Lawn work is basically a household activity and it is generally characterized by taking care of grass species around ones home. The inputs that are actually required here are several, one of them being pesticides which are used for controlling pests which can destroy the grass. The other input is water and the spreading machine and fertilizers purposely for maintaining high quality and the health of the grass. The other additional input is the lawnmower which is a machine employed in cutting the grass into a more suitable and appealing length so as to uphold uniformity. Lawn work therefore entails specific steps in ensuring that the service is well delivered.
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