Managerial Economicsbasic
An item that is output for one producer can become an input for another producer.
Answer
true
Explanation
### Why this is right
The note uses maize as an example: it is a farmer's output and becomes an input for a feed miller. Whether something is an input or output depends on the production process being considered.
### The concept
Production is the transformation of inputs into outputs. Goods can move through successive production stages, so the same commodity may occupy different roles in different firms. This prevents treating input and output as permanent labels attached to an item.
### Remember
Input or output describes a role in a particular production process.
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