Isoquant - Meaning and Properties * Marginal Rate of Technical Substitution * Law of Returns to Scale Meaning An isoquant is a firm’s counterpart of the consumer’s indifference curve. An isoquant is a curve that show all the combinations of inputs that yield the same level of output. ‘Iso’ means equal and ‘quant’ means quantity. Therefore‚ an isoquant represents a constant quantity of output. The isoquant curve is also known as an “Equal Product Curve” or “Production Indifference Curve”
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Amartya Sen‚ an Indian economist and political philosopher‚ first articulated the “The Capability Approach” in the late 1970s and 1980s in order to create an alternative and new framework of thinking and evaluating issues of poverty‚ development‚ well-being and equality by embracing complexity‚ plurality and individualism with the aim to not overlook anything. Through his creation of the Capability Approach‚ Sen shows that his primary concern is to create a pluralistic conception of poverty and development
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9.d. Isoquants: An isoquant (equal quantity) is a curve that shows the combinations of certain inputs such as Labor (L) and Capital (K) that will produce a certain output Q. Mathematically‚ the data that an isoquant projects is expressed by the equation f (K‚L) = Q This equation basically says that the output that this firm produces is a function of Labor and Capital‚ where each isoquant represents a fixed output produced with different combinations of inputs. A new isoquant emerges for every
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The Reggio Emilia Approach‚ a constructivist approach‚ is related to constructivist theorists such as Piaget and Vygotsky. Piaget and Vygotsky offer theories on ways children think cognitively in a developmental manner. Piaget believes that a child is competent‚ when a child learns new things it just enhances their skills further. Vygotsky also believes that a child is competent‚ yet when they are educated it helps them in the process of the ZPD‚ zone of proximal development. According to Piaget
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and Karl Max’s (1844) concern with human freedom and emancipation‚ but the strongest connection is with Aristotel’s theory of political distribution and human flourishing (Clark‚ 2006). The Capability Approach Explained It might be easier to start by making clear what the capability approach is not: it does not aim to be a fully specified theory or a complete and standardized means of analyzing human development. Rather‚ it is a broad and deliberately incomplete normative framework for the
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B1: Discuss legislation or theory or a philosophical approach that informs practise which relates to the title. A philosophical approach that contributes to making a better support system for each child is the Reggio Emilia approach. This program is based on the principles of respect‚ responsibility and community through exploration and discovery; the early year’s practitioners within a Reggio Emilia school create supporting environments based off of the children’s interests to keep them engaged
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Reggio Emilia’s Approach Reggio Emilia is the Italian city where this approach was introduced in the 1940’s. Started by the parents‚ the Reggio Emilia Nurseries have a partnership between parents and educators. The environment is viewed as the third most important element‚ after the early year’s educator and the child’s parent. The early year’s educator is there to listen and to guide children‚ but not to control their play. This approach then quickly spread across the world. How children are competent
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The Reggio Emilia Approach to Early Years Education Acknowledgements I wish to express my sincere thanks to Pat Wharton‚ Diane Alexander and Eileen Carmichael for their generous contributions to the first and second editions of this document. I would also like to thank all the children‚ educators and parents of the many Reggio schools who gave so generously of their time and answered my questions with enthusiasm and patience. And finally‚ a special thankyou to Ruben‚ Sebastian and Emily … my
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meaning of a child-centred approach is to guarantee that the child is put first before anyone else. Every single person who works with children‚ whether that be a nurse‚ teacher‚ youth worker etc‚ has a huge responsibility to look after and make sure that each child they come into contact with is safe. A child centred approach is basically where every child can communicate and connect with people and also have a choice without someone interfering. A child centred approach is also beneficial for them
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The Reggio Approach derives its name from its place of origin‚ Reggio Emilia‚ a city located in Emilia Romagna in Northern Italy. Shortly after World War II‚ Loris Malaguzzi‚ a young teacher and the founder of this unique system‚ joined forces with the parents of this region to provide childcare for young children. Inspired by the need for women to return to the workforce‚ this education system has developed over the last 50 years into a unique program that has caught the attention of early childhood
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