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العربية; Azərbaycanca; تۆرکجه; বাংলা; 閩南語 / Bân-lâm-gú; Беларуская (тарашкевіца) Bosanski; الدارجة
Some things are useful, but not scarce enough to have monetary value, such as the Earth's atmosphere, these are referred to as 'free goods'. In normal parlance, "goods" is always a plural word, [5] [6] but economists have long termed a single item of goods "a good". In economics, a bad is the opposite of a good. [7]
Physical capital represents in economics one of the three primary factors of production. Physical capital is the apparatus used to produce a good and services. Physical capital represents the tangible man-made goods that help and support the production. Inventory, cash, equipment or real estate are all examples of physical capital.
A good in economics is any object, service or right that increases utility, directly or indirectly. A good that cannot be used by consumers directly, such as an "office building" or "capital equipment", can also be referred to as a good as an indirect source of utility through resale value or as a source of income.
Download as PDF; Printable version ... inexpensive raw materials to be used in manufacturing goods, ... a definition of economics as a study of human ...
Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed into a final product. The manufacturing process begins with the product design, and materials specification. These materials are then modified through manufacturing to become the ...
In economics, factors of production, resources, or inputs are what is used in the production process to produce output—that is, goods and services.The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function.
Artificial demand or manufactured demand constitutes demand for something that, in the absence of exposure to the vehicle of creating demand, would not exist. It has controversial applications in microeconomics ( pump and dump strategy) and advertising .