Factors of Production 1. Land 2. Labor 3. Capital (Money) is not actually considered as capital in economics as it does not produce a good and service but it is rather a form of asset that is used as a medium of exchange. 4. Entrepreneurship The 3 E’s in ECONOMICS 1. Efficiency refers to productivity and proper allocation of economic resources. 2. Equity means justice and fairness. 3. Effectiveness means attainment of goals and objectives. Types of Economic Systems To address
Premium Supply and demand Economic system
http://www.enotes.com/business-finance-encyclopedia/factors-production Factors Of Production Land‚ labor‚ capital‚ and entrepreneurship: These are four generally recognized factors of production. Of course‚ in a literal sense anything contributing to the productive process is a factor of production. However‚ economists seek to classify all inputs into a few broad categories‚ so standard usage refers to the categories themselves as factors. Before the twentieth century‚ only three factors making
Premium Economics Capital Factors of production
5 Design Decision Styles. What’s Yours? By Jared M. Spool Originally published: Jan 21‚ 2009 In the early days of e-commerce‚ we studied how seasoned hiking customers bought hiking boots online. Two sites in our study‚ L.L. Bean and REI‚ both sold virtually identical boots at the same price with practically the same marketing copy. Yet the customers we studied were far more likely to buy the boots on the REI site than on the L.L. Bean site. Why? Because the product pictures on the REI site showed
Premium Design Design management
http://www.ucar.edu/communications/gcip/m2ccycle/m2pdf.pdf http://www.ucar.edu/communications/gcip/m2ccycle/m2pdf.pdf The Carbon Cycle Importance of Carbon Cycle Carbon (C) is the fourth most abundant element in the universe and is found in all living substances as well as in many inorganic materials and is also the key element for life. The carbon cycle is the exchange of carbon among three reservoirs or storage places: the land‚ the oceans‚ and the atmosphere The atmosphere has the least amount
Free Carbon dioxide Oxygen Carbon
A Presentation on Different phase of Business Cycle Business Cycles √ The term business cycle refers to the recurrent ups and downs in the level of economic activity‚ which extend over several years. √ Individual business cycles may vary greatly in duration and intensity. √ All display a set of phases. THE BUSINESS CYCLE Phases of the Business Cycle RECESSION TROUGH RECOVERY Level of business activity PEAK Time Level of business activity PEAK H T OW D R G N E R T Time √ Peak or prosperity phase:
Premium Recession Business cycle Unemployment
THE ECONOMICS OF MASS PRODUCTION. The United States economy changed dramatically in the period following the Civil War. Business itself changed during this time: various ways were tried to increase the size of businesses‚ including trusts and holding companies. The average standard of living more than doubled between 1870 and 1910 and manufacturing‚ rather than agriculture‚ became businesses central feature. A major factor in this increase was the rise of big businesses and the widespread use
Premium Economics Costs United States
Accepted 5 February 2011) This study was aimed at the large scale production and application of Bacillus thuringiensis (Bt) biopesticide in Bangladesh agriculture from locally available cheap raw materials. B. thuringiensis subsp. kurstaki HD-73 (reference strain) and two other indigenous isolates of B. thuringiensis namely Bt-Soil-47 and Bt-Insect-1i demonstrated satisfactory growth of sporulation and endotoxin production in a medium prepared from de-fatted mustard-seed meal (oil cake) as
Premium Bacillus thuringiensis Bacillus Bacteria
------------------------------------------------- The Processes of the nitrogen cycle Nitrogen fixation Atmospheric nitrogen must be processed‚ or "fixed" (see page on nitrogen fixation)‚ in order to be used by plants. Some fixation occurs in lightning strikes‚ but most fixation is done by free-living or symbiotic bacteria. These bacteria have the nitrogenase enzyme that combines gaseous nitrogen with hydrogen to produce ammonia‚ which is then further converted by the bacteria to make their own organic
Premium Nitrogen Ammonia
of timber production is more considerable and alternative systems to clear-felling (large areas of woodland cut down at the same time) are used. Coppicing (management based on regeneration by regrowth from the cut stumps) can be used for some hardwood species‚ such as willow‚ hazel and ash‚ and causes least disruption on the forest ecosystem. set aside’ land schemes’ This scheme is set to encourage land owners / farmers to allow areas of land previously used for food production to return
Premium Wood Forest Forestry
Sleep Cycle You may be surprised to learn that we still don’t fully understand why people need to sleep and what purpose sleep serves. Doctors and researchers had thought many years ago that sleep was a single state of being that was distinguished from waking. However‚ we now know that sleep itself is divided into two distinctly different states: REM‚ or rapid eye movement sleep‚ and non-REM sleep. Non-REM sleep is the state of sleep entered when we first start to doze off. Non-REM sleep state
Premium Sleep