0
What is the name of the law that states that as we shift factors of production from making one good or service to another the cost of producing the second item increases?
Wiki User
∙ 12y ago
the law of increasing costs
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Is there another word for dependent variable?
another name for variables is factors
What of these describes the law of comparative costs?
Countries with the most efficient factors of production could produce the most profitable goods.
What is another word for Factors that remain the same throughout an experiment?
"Constants" would be an appropriate word
True or False The production designer can help the director with characterization by creating personalized environments?
Yes. The correct answer is true. In examining the setting as it related to the story, it is necessary to consider the effect of four factors on the story as a whole. Temporal factors, geographic factors -social structures and economic factors and customs, moral attitudes, and codes of behavior. Each factor has an important effect on the problems, conflicts and character of human beings and must be considered as an integral part of any story's plot or theme.
What is value adding?
In economics, the difference between cost of materials and labor to produce a product, and the sale price of a product is the Value added. In national accounts used in macroeconomics, value added is the contribution of it refers to the contribution land, labor, and capital goods (the factors of production), to increasing the price of a product, the value added is then the income received by the owners of these factors. The national value added is shared between capital and labor (as the factors of production), and this sharing gives rise to issues of distribution.sources: http:/en.wikipedia.org/wiki/Value_a
What are three factors of production?
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.
What are the different factors of production?
There are four different factors of production and they are land, labor, capital and enterprise. These four factors are necessary in producing a commodity.
What is the name of law that states that as we shift factors of productions from making one good or services to another the cost of producing the second item increases?
the law of increasing costs
What is the name of the law that states that as we shift factors of production from making one good or service to another the cost of producing the second item increase?
the law of increasing costs
Explain the law of variable proportions with suitable diagram?
in the process of production, in short run where producer changes few factors of production , i.e; varies the proportion between fixed factors and variable factors then production changes by three ways -at first production increases rapidly - at second production increases slowly - at third production decreases. the analysis of these procedures is known as law of variable proportion.
What is the name of the law that states that as we shift factors of production of making one good or service to another the cost of making the second item increases?
the law of increasing costs
How do factors of production relates to one another?
uh?
When factors of production perform only task they can do more than other?
Specialization is when factors of production perform only tasks they can do more efficiently than others. This is argued to maximize efficiency, but also increases interdependence among aspects of production.
When factors of production perform only tasks they can do more efficiently than others?
Specialization is when factors of production perform only tasks they can do more efficiently than others. This is argued to maximize efficiency, but also increases interdependence among aspects of production.
What are factors of production name any four factors of production.?
Factors of production
What role does operations management play in producing goods and services?
To coordinate the activities of all the factors of production namely:labour,land,capital,technology,and equipments. To coordinate the activities of all the factors of production namely:labour,land,capital,technology,and equipments.
List britain’s 3 factors of production?
Natural Resources Another major reason why the Industrial Revolution began in Great Britain was that it had an abundant supply of what economists call the three factors of production. These factors of production are land, labor, and capital.
