This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Explain what is meant by the term production. What will be an ideal ... (Read 55 times)

iveyjurea

  • Hero Member
  • *****
  • Posts: 555
on: Jun 29, 2018
Explain what is meant by the term production.
 
  What will be an ideal response?

Question 2

Define a variable and give two examples that would apply to economics.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

catron30

  • Sr. Member
  • ****
  • Posts: 297
Reply #1 on: Jun 29, 2018
Answer to Question 1

Production is the process by which inputs are combined, transformed, and turned into outputs.

Answer to Question 2

A variable is a measure that can change from time to time or from observation to observation. Income is a variableit has different values for different people and different values for the same person at different times. The rental price of a movie on a DVD is a variable; it has different values at different stores and at different times.


iveyjurea

  • Hero Member
  • *****
  • Posts: 555
Reply #2 on: Jun 29, 2018
Thank you


catron30

  • Sr. Member
  • ****
  • Posts: 297
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

El Niño and areas of high marine primary production around the Galapagos Islands. Noti El Niño and areas of high marine primary production around the Galapagos Islands. Noti
Ectopic pregnancies. (a) An ectopic pregnancy may occur in any of the locations shown. Interstitial Ectopic pregnancies. (a) An ectopic pregnancy may occur in any of the locations shown. Interstitial
Associative Long-Term Potentiation Associative Long-Term Potentiation
A pharmacist can explain to a patient why medication may look different and ensure the correct ... A pharmacist can explain to a patient why medication may look different and ensure the correct ...
Role of Factors of Production in Determining Growth, 1975–2009 Role of Factors of Production in Determining Growth, 1975–2009
Explain the myogenic autoregulation of the glomerular filtration rate Explain the myogenic autoregulation of the glomerular filtration rate
Video: Nucleic acid digestion -small intestine

For a complete list of videos, visit our video library