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In economics a trade-off is expressed in terms of the opportunity cost of a particular choice, which is the loss of the most preferred alternative given up. [2] A tradeoff, then, involves a sacrifice that must be made to obtain a certain product, service, or experience, rather than others that could be made or obtained using the same required resources.
Availability of parallel components = 1 - (1 - X)^ N 10 hosts, each having 50% availability. But if they are used in parallel and fail independently, they can provide high availability. So for example if each of your components has only 50% availability, by using 10 of components in parallel, you can achieve 99.9023% availability.
In economics, a commodity is an economic good, usually a resource, that specifically has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
As a result, the demand for different goods changes. [5] Consumers' Expectations: Consumers' expectations regarding factors such as future prices, income, and availability of goods play a crucial role in determining the demand for goods and services in the present period. For instance, if consumers anticipate a future increase in the price of a ...
[2] [3] A more narrow definition of supply chain management is the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronising supply with demand and measuring performance globally".
Availability of parallel components = 1 - (1 - X)^ N [3] Using parallel components can exponentially increase the availability of overall system. [2] For example if each of your hosts has only 50% availability, by using 10 of hosts in parallel, you can achieve 99.9023% availability. [3] Note that redundancy doesn’t always lead to higher ...
Goods produced in small-scale industries cannot compete in the open market if the same goods are manufactured on a large scale. The wholesaler, who takes most of the profit, exploits the owners of the small-scale industry. In some cases goods are sold to wholesalers at cost price, which discourages the owners and they reduce the quality and ...
Goods are capable of being physically delivered to a consumer. Goods that are economic intangibles can only be stored, delivered, and consumed by means of media. Goods, both tangibles and intangibles, may involve the transfer of product ownership to the consumer. Services do not normally involve transfer of ownership of the service itself, but ...