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In microeconomics, production can be measured in terms of quantity because it allows for the assessment of output levels relative to inputs used, thereby facilitating comparisons of efficiency and productivity. This quantitative measure helps businesses and economists analyze how changes in resource allocation, technology, or labor affect overall production. Additionally, measuring production in quantity provides a clear framework for evaluating supply and demand dynamics in the market.
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What is real cost and money cost?
The main difference between the two is the way to measure it in..Real cost is measured in its total/overall quantity for example if i am to build a chair..the 'real cost' chair is = "quantity/amount" of wood, nails, hammer, super glue etc . + my labour charges. according to an economist Alfred marshall, real cost should also include the the time utilized, the troubles taken, the pollution generated etc. it is an abstract concept and so is not an easy or precise way to measure cost.
What terms do we express the amount of shortage or surplus?
The amount of shortage is expressed as a "shortage quantity," which indicates the difference between the quantity demanded and the quantity supplied when demand exceeds supply. Conversely, a "surplus quantity" refers to the excess supply when the quantity supplied exceeds the quantity demanded. These terms help in understanding market dynamics and price adjustments.
The process of dividing a nominal quantity by a price index in order to express the quantity in real terms is called?
Deflating!
What is the meaning of value of production?
can anyone tell me what is value of production mean in simple terms
What are the key differences between an inelastic and elastic graph in terms of price and quantity changes?
In an inelastic graph, price changes have a small impact on quantity demanded, while in an elastic graph, price changes have a significant impact on quantity demanded.
What is a measure of quantity in an object?
A measure of quantity in an object refers to the amount of that object present. It could be measured in terms of weight, volume, count, or any other relevant unit of measurement depending on the characteristics of the object being measured.
What does a scalar measure?
A scalar is a quantity that has only magnitude and no direction. In terms of measurement, a scalar measure is a numerical value representing the size or magnitude of a physical quantity without specifying the direction. Examples of scalar measures include temperature, distance, and speed.
What is the name of a narrowed objective description associated with a quantity?
A specific term representing a quantity is a "measure" or a "metric." These terms are often used to describe a precise attribute or dimension in a quantitative manner.
What terms can be use do describe mass?
Mass can be described as the amount of matter in an object, a measure of the inertia of an object, or a scalar quantity that is a fundamental property of an object.
What is the part of speech of the word measure?
The word measuring is the present participle of the verb "to measure" and may be used as a verb (he was measuring, they will be measuring), or as a noun (gerund) for the act of measuring. It can also be a noun adjunct in terms such as measuring rod or measuring cup.
What regions produce the most fish?
Pacific Ocean is the region which produces the highest number of fish. Globally, Asia-Pacific region tops the list, accounting for 89 percent of the total global production in terms if quantity.
What kind of physical quantity is a stress?
Stress is a physical quantity that represents the internal response of a material to an external force. It is typically described in terms of force per unit area and is a measure of how much deformation a material undergoes when subjected to external loading.
What does quantity mean in math terms?
dami
What is real cost and money cost?
The main difference between the two is the way to measure it in..Real cost is measured in its total/overall quantity for example if i am to build a chair..the 'real cost' chair is = "quantity/amount" of wood, nails, hammer, super glue etc . + my labour charges. according to an economist Alfred marshall, real cost should also include the the time utilized, the troubles taken, the pollution generated etc. it is an abstract concept and so is not an easy or precise way to measure cost.
What terms do we express the amount of shortage or surplus?
The amount of shortage is expressed as a "shortage quantity," which indicates the difference between the quantity demanded and the quantity supplied when demand exceeds supply. Conversely, a "surplus quantity" refers to the excess supply when the quantity supplied exceeds the quantity demanded. These terms help in understanding market dynamics and price adjustments.
What does quantity mean in mathematical terms?
It means the amount.
What is the difference between magnetic moment and angular momentum?
Magnetic moment refers to the property of a magnet or a current-carrying loop to produce a magnetic field, while angular momentum is a measure of the rotational motion of an object. In terms of physical quantity, magnetic moment is a vector quantity, while angular momentum is a vector quantity as well.
