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A factory ship, also known as a fish processing vessel, is a large ocean-going vessel with extensive on-board facilities for processing and freezing caught fish or whales. Modern factory ships are automated and enlarged versions of the earlier whalers , and their use for fishing has grown dramatically.
The economic concept dates back to Adam Smith and the idea of obtaining larger production returns through the use of division of labor. [2] Diseconomies of scale are the opposite. Economies of scale often have limits, such as passing the optimum design point where costs per additional unit begin to increase.
Ecological economics is an alternative to neoclassical economics. It integrates, among other things, the first and second laws of thermodynamics (see: Laws of thermodynamics) to formulate more realistic economic systems that adhere to fundamental physical limitations. In addition to the neoclassical focus on efficient allocation, ecological ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
This factory was in Malmö, Sweden. Burj al Arab as a symbol for the hospitality industry An image of the motor industry (automotive industry), a supplier to the transport industry. Economists may regard the manufacture of vehicles as a foundational industry and as a bellwether industry. [1]
The Venice Arsenal also provides one of the first examples of a factory in the modern sense of the word. Founded in 1104 in Venice, Republic of Venice, several hundred years before the Industrial Revolution, it mass-produced ships on assembly lines using manufactured parts. The Venice Arsenal apparently produced nearly one ship every day and ...
In political philosophy, the means of production refers to the generally necessary assets and resources that enable a society to engage in production. [1] While the exact resources encompassed in the term may vary, it is widely agreed to include the classical factors of production (land, labour, and capital) as well as the general infrastructure and capital goods necessary to reproduce stable ...
Reconstructed historical factory in Žilina for production of safety matches.Originally built in 1915 for the firm Wittenberg and Son.. The factory system is a method of manufacturing whereby workers and manufacturing equipment are centralized in a factory, the work is supervised and structured through a division of labor, and the manufacturing process is mechanized.