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 78 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?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Pathway of urine production and elimination. Pathway of urine production and elimination.
Term neonate. Term neonate.
Prolonged abuse leads to production of stress hormones that can lead to a cascade of effects ... Prolonged abuse leads to production of stress hormones that can lead to a cascade of effects ...
Block Diagram of Single-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid Block Diagram of Single-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid
Great Britain Production of Glass 1800s Great Britain Production of Glass 1800s
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
Video: Protein catabolism - deamination

For a complete list of videos, visit our video library