an uncertain profit if the input prices are volatile. This risk can be reduced by a long hedge
producer price index
Actual output is the "real" GDP ( gross domestic product). potential output is the targeted output set by the government. the difference between the actual and potential output is UNDEREMPLOYMENT!
The change in total output, when one more input is added/deducted. If Total Product of current period 'n', then the Marginal Product [Marginal Output]= Tn - Tn-1. It is the marginal change in the total output when one unit of input say labour or capital is added.
Producer Price Index (PPI)
economies of scale
Output is the end product: final product; the things produced.So the output of a bakery are the baked goods.
output
efficiency is a product of the input versus the output
Brazil is the largest producer of coffee in the world. Estimates put their output somewhere between 30 and 40 % of the world's coffee production.
The largest tea producer in the world is China. China produces 1,640,310 Metric tons per year, 35.13% of the total output.
producer price index
Actual output is the "real" GDP ( gross domestic product). potential output is the targeted output set by the government. the difference between the actual and potential output is UNDEREMPLOYMENT!
The change in total output, when one more input is added/deducted. If Total Product of current period 'n', then the Marginal Product [Marginal Output]= Tn - Tn-1. It is the marginal change in the total output when one unit of input say labour or capital is added.
Producer Price Index (PPI)
economies of scale
China is the world's largest producer of tomatoes.
Gross domestic product GDP measures and reports output in the local currency. This is one of the ways of measuring the economy of a country.