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Location theory has become an integral part of economic geography, regional science, and spatial economics. Location theory addresses questions of what economic activities are located where and why. Location theory or microeconomic theory generally assumes that agents act in their own self-interest. Firms thus choose locations that maximize ...
In economics, the economics of location is the study of strategies used by firms and retails in a monopolistically competitive environment in determining where to locate. [1] Unlike a product differentiation strategy, where firms make their products different in order to attract customers, an economics of location strategy is consistent with ...
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 .
A factory, manufacturing plant or production plant is an industrial facility, often a complex consisting of several buildings filled with machinery, where workers manufacture items or operate machines which process each item into another.
Factory overhead, also called manufacturing overhead, manufacturing overhead costs (MOH cost), work overhead, or factory burden in American English, is the total cost involved in operating all production facilities of a manufacturing business that cannot be traced directly to a product. [1] It generally applies to indirect labor and indirect cost.
Plants require specific temperatures to grow and develop properly. Temperature can be controlled through a variety of methods. Covering plants with plastic in the form of cones called hot caps, or tunnels, can help to manipulate the surrounding temperature. Mulching is also an effective method to protect outdoor plants from frost during the winter.
Economic botany is the study of the relationship between people (individuals and cultures) and plants.Economic botany intersects many fields including established disciplines such as agronomy, anthropology, archaeology, chemistry, economics, ethnobotany, ethnology, forestry, genetic resources, geography, geology, horticulture, medicine, microbiology, nutrition, pharmacognosy, and pharmacology. [1]
Biobased economy, bioeconomy or biotechonomy is an economic activity involving the use of biotechnology and biomass in the production of goods, services, or energy. The terms are widely used by regional development agencies, national and international organizations, and biotechnology companies.