Production-possibility frontier In economics‚ a production-possibility frontier (PPF) or “transformation curve” is a graph that shows the different quantities of two goods that an economy (or agent) could efficiently produce with limited productive resources. Points along the curve describe the trade-off between the two goods‚ that is‚ the opportunity cost. Opportunity cost here measures how much an additional unit of one good costs in units forgone of the other good. The curve illustrates that
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Cost of Production Fixed costs are those that do not vary with output and typically include rents‚ insurance‚ depreciation‚ set-up costs‚ and normal profit. They are also called overheads. Variable costs are costs that do vary with output‚ and they are also called direct costs. Examples of typical variable costs include fuel‚ raw materials‚ and some labour costs. An example Production costs Consider the following hypothetical example of a boat building firm. The total fixed costs‚ TFC‚ include
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What is Global Production Network? Global production network (GPN) does not refer broadly to all products that are internationally traded. Rather‚ it refers to those products and services in which the production chain is extended over several (two or more) countries. GPNs are typically characterized by transnational corporations which tend to retain their knowledge-intensive‚ design-intensive activities‚ and marketing associated with proprietary know-how and higher value-added activities in
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He advances the concept of the mode of production so that the structure of production relations can be analyzed. This concept is a theoretical and abstract tool for Marx’s sociological analysis and his historical periodization. He advances this concept in The German Ideology in the year of 1846. In my paper‚ I want to analyze how Marx conceptualizes the mode of production and how it is related to his other analyses. Marx has a dualistic understanding of production‚ for him every production is indeed a double production: pr
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Competing on Differentiation: Case of Ranbaxy Laboratories According to the case study‚ while other companies were driven by large R & D budget‚ Ranbaxy Laboratories attained success by developing capabilities in manufacturing and marketing‚ fanning out into seven developing market‚ and growth in strength in product engineering. The company aimed at being a low cost manufacturer to compete with global players in market abroad. It does so by employing to the concept of total activity cost
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Applications of Differentiation 1. If a line y = x + 1 is a tangent to the curve y2= 4x ‚find the point the of contact ? 2. Find the point on the curve y = 2x2– 6x – 4 at which the tangent is parallel to the x – axis 3. Find the slope of tangent for y = tan x + sec x at x = π/4 4. Show that the function f(x) == x3– 6x2 +12x -99 is increasing for all x. 5. Find a‚ for which f(x) = a(x+sinx)+a is increasing 6. Find the intervals in which the function f ( x ) = x3 - 6x2 + 9x + 15 is
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Int. J. Production Economics 141 (2013) 529–540 Contents lists available at SciVerse ScienceDirect Int. J. Production Economics journal homepage: www.elsevier.com/locate/ijpe Postponed product differentiation with demand information update$ Juliang Zhang a‚ Biying Shou b‚n‚ Jian Chen c a b c Department of Logistics Management‚ School of Economics and Management‚ Beijing Jiaotong University‚ Beijing 100044‚ China Department of Management Sciences‚ City University of Hong Kong‚ Hong
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The Broad Scopes of Human Resources Literature Review Shamieka Williams University of Phoenix The three articles in this review are from Buse (2009)‚ Cudanov‚ Jasko‚ and Savoiu (2012) and Liu‚ Liu‚ Mills‚ and Fan (2013). All three of the articles discuss the ever evolving world of human resources and the factors linked to human resources management. Human resources simply does not involve the various amounts of documents that hold an organization together‚ but also involves the structure
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Chapter 2: Production Possibilities Curve‚ Scarcity‚ and Development I. A Market System and Basic Economic Questions 1. In a decentralized (Capitalist) society‚ “markets” are required. This market system is a means of buyer–seller exchange‚ and does not need a physical location. The idea that self–interested market participants will make everyone better off was called ”an invisible hand” by Adam Smith‚ and creates the invisible hand argument that is used in the same way today. 2. The
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Creativity‚ Invention and Innovation – Relationship and differentiation This article explores the relationship and differences between creativity‚ invention and innovation in the organisational context. Creativity‚ invention and innovation are not the same thing. Creativity is the ability to see or perceive the world in different ways and to make connections between things that may be unrelated or those that we previously thought were not connected resulting in a generation of solutions
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