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Construction aggregate, or simply aggregate, is a broad category of coarse- to medium-grained particulate material used in construction. Traditionally, it includes natural materials such as sand, gravel, crushed stone. As with other types of aggregates, it is a component of composite materials, particularly concrete and asphalt.
In macroeconomics, aggregate production functions for whole nations are sometimes constructed. In theory, they are the summation of all the production functions of individual producers; however there are methodological problems associated with aggregate production functions, and economists have debated extensively whether the concept is valid. [3]
Aggregate planning is a marketing activity that does an aggregate plan for the production process, in advance of 3 to 18 months, to give an idea to management as to what quantity of materials and other resources are to be procured and when, so that the total cost of operations of the organization is kept to the minimum over that period.
Most aggregate is used in construction, including 97 percent of sand and gravel and 76 percent of crushed rock. Per capita usage in the United States in 1996 was 8.7 metric tons per year. [7] Use, and therefore production of aggregate, is determined by the construction industry.
This is usually captured by an aggregate production function: [10] Y = F ( A , K , L ) {\displaystyle Y=F(A,K,L)} where Y is total output, K is the stock of capital in the economy, L is the labor force (or population) and A is a "catch all" factor for technology, role of institutions and other relevant forces which measures how productively ...
Concrete production is the process of mixing together the various ingredients—water, aggregate, cement, and any additives—to produce concrete. Concrete production is time-sensitive. Once the ingredients are mixed, workers must put the concrete in place before it hardens.
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In economics, total-factor productivity (TFP), also called multi-factor productivity, is usually measured as the ratio of aggregate output (e.g., GDP) to aggregate inputs. [1] Under some simplifying assumptions about the production technology, growth in TFP becomes the portion of growth in output not explained by growth in traditionally ...