Production Production In economics, the Cobb-Douglas functional form of production functions is widely used to represent the relationship of an output to inputs. It was proposed by Knut Wicksell, and tested against statistical evidence by Paul Douglas and Charles Cobb in 1928. ...more on Wikipedia about "Cobb-Douglas"
Factors of production are resources used in the production of goods and services in economics. Classical economics distinguishes between three factors: ...more on Wikipedia about "Factors of production"
Kanban (in kanji 看板 also in katakana カンバン) is a concept related to the Lean or Just In Time (JIT) production, but these two concepts are not the same thing. (The Japanese word "kanban" is a common everyday term meaning "sign" or "card" and utterly lacks the specialized meaning which this loanword has acquired in English.) According to Taiichi Ohno, the man credited with developing JIT, kanban is the means by which JIT is managed. ...more on Wikipedia about "Kanban"
In economic models, the long run time frame assumes no fixed factors of production. Firms can enter or leave the marketplace, and the cost (and availability) of land, labor, raw materials, and capital goods can be assumed to vary. In contrast, in the short run time frame, certain factors are assumed to be fixed, because there is not sufficient time for them to change. This is related to the long run average cost curve, an important factor in microeconomic models. ...more on Wikipedia about "Long run"
A means of persuasion, in some theories of politics and economics, can substitute for a factor of production by providing some influence or information. This may be of direct value to the actor accepting the influence, i.e. a bribe, or instructional capital to assist persuasion in some other enterprise, e.g. a patent or license to same which persuades a competitor to avoid patent infringement or to partner with the holder. ...more on Wikipedia about "Means of persuasion"
The means of production ( German: Produktionsmittel) are physical, non-human, inputs used in production. This includes land, factories, machines, tools and materials, along with both infrastructural capital and natural capital - in other words, the classical factors of production minus financial capital and minus human capital or labor. ...more on Wikipedia about "Means of production"
In the writings of Karl Marx and the Marxist theory of historical materialism, a mode of production (in German: Produktionsweise, meaning 'the way of producing') is a specific combination of: ...more on Wikipedia about "Mode of production" Simply www.shortopedia.com!
A production set is the set of all possible product combinations that a firm can produce given its resources. Used as part of profit maximization calculations. ...more on Wikipedia about "Production set"
Relations of production (German: Produktionsverhaltnisse) is a concept frequently used by Karl Marx in his theory of historical materialism and in Das Kapital. Beyond examining specific cases, Marx never defined the general concept exactly however. It is evident though that it refers to all kinds of social and technical human interconnections involved in the social production and reproduction of material life. " Social" denotes belonging, group membership and co-operative activity (in Latin, 'socius' means comrade, companion or associate). "Technical" refers here to a relationship between producers and objects worked upon. ...more on Wikipedia about "Relations of production"
Roundaboutness, or roundabout methods of production is the term used to describe the process whereby capital goods are produced first and then, with the help of the capital goods, the desired consumer goods are produced. ...more on Wikipedia about "Roundaboutness"
A technical change is a term used in economics to describe a change in the amount of output produced from the same inputs. A technical change is not necessarily technological as it might be organizational, or due to a change in a constraint such as regulation, input prices, or quantities of inputs. ...more on Wikipedia about "Technical change"
A technological change is a term used in economics to describe a change in the set of feasible production possibilities. ...more on Wikipedia about "Technological change"
A wind farm is a collection of wind turbines all in the same location and used for the generation of electricity. ...more on Wikipedia about "Wind farm"
Wind power is the kinetic energy of wind, or the extraction of this energy by wind turbines. In 2004, wind power became the least expensive form of new power generation, dipping below the cost per kilowatt-hour of coal-fired plants ** . Wind power is growing faster than any other form of electrical generation, at about 37% ** , up from 25% growth in 2002. In the late-1990s, the cost of wind power was about five times what it is in 2005, and that downward trend is expected to continue as larger multi-megawatt turbines are mass-produced. ** ...more on Wikipedia about "Wind power"
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