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The word "bumper" in this context comes from a usage that means "something unusually large", [1] which is where this term comes from. [ 2 ] Though very productive harvests often have positive implications for the producer, a bumper crop can also be a source of problems, such as when there is insufficient storage space ( barns , grain bins , etc ...
To stimulate farm investment, projects on access to finance for agriculture are also popping up. One example is the SCOPE methodology, [ 21 ] an assessment tool that measures the management maturity and professionalism of producer organizations as to give financing organizations better insights in the risks involved in financing.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The Curriculum Open-Access Resources in Economics Project (CORE Econ) is an organisation that creates and distributes open-access teaching material on economics. The goal is to make teaching material and reform the economics curriculum. [ 1 ]
In an economic market, production input and output prices are assumed to be set from external factors as the producer is the price taker. Hence, pricing is an important element in the real-world application of production economics. Should the pricing be too high, the production of the product is simply unviable.
Economics classes make extensive use of supply and demand graphs like this one to teach about markets. In this graph, S and D refer to supply and demand and P and Q refer to the price and quantity. The following outline is provided as an overview of and topical guide to economics:
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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 .