Search results
Results from the WOW.Com Content Network
In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time.
Tendency to isolate a single root cause, whereas each question could elicit many different root causes. Medical professor Alan J. Card also criticized the five whys as a poor root cause analysis tool and suggested that it be abandoned because of the following reasons: [10]
In other words, more production of a desired commodity can be made possible only by reducing the quantity of resources used in the production of other goods. The problem of allocation deals with the question of whether to produce capital goods or consumer goods. If the community decides to produce capital goods, resources must be withdrawn from ...
A producing company can be divided into sub-processes in different ways; yet, the following five are identified as main processes, each with a logic, objectives, theory and key figures of its own. It is important to examine each of them individually, yet, as a part of the whole, in order to be able to measure and understand them.
If one stick is taken away, the other two will fall to the ground. [65] [66] Causality in the Chittamatrin Buddhist school approach, Asanga's (c. 400 CE) mind-only Buddhist school, asserts that objects cause consciousness in the mind's image. Because causes precede effects, which must be different entities, then subject and object are different.
Aristotle distinguished between intrinsic and extrinsic causes. Matter and form are intrinsic causes because they deal directly with the object, whereas efficient and finality causes are said to be extrinsic because they are external. [8] Thomas Aquinas demonstrated that only those four types of causes can exist and no others. He also ...
In reality, industries with strong monopoly capacity will be more restricted by legal regulations. These regulations can impose competitive pressure on companies and prevent the industry turning into a true monopoly. Meanwhile, these artificial pressure of regulations can induce competitive pressure to companies, thus improving X-inefficiency. [9]
Say further argued that because production necessarily creates demand, a "general glut" of unsold goods of all kinds is impossible. If there is an excess supply of one good, there must be a shortage of another: "The superabundance of goods of one description arises from the deficiency of goods of another description." [11]