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 56 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?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production
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
Cultures Ideal Body Types Cultures Ideal Body Types
What are examples of ideal forms? What are examples of ideal forms?
Three Pieces of the Long-Term Weight-Loss Puzzle Diet Three Pieces of the Long-Term Weight-Loss Puzzle Diet
Post-term birth rates, by province/territory, Canada Post-term birth rates, by province/territory, Canada
Video: Insulin (glucose uptake by body cells), glycogenesis and lipogenesis

For a complete list of videos, visit our video library