Economics of Production
Definition:
In economics, production is the act of creating output, a good or service which has value and contributes to the utility of individuals.[1] The act may or may not include factors of production other than labor. Any effort directed toward the realization of a desired product or service is a "productive" effort and the performance of such act is production. The relation between the amount of inputs used in production and the resulting amount of output is called the production function.
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία (oikonomia, "management of a household, administration") from οἶκος (oikos, "house") + νόμος (nomos, "custom" or "law"), hence "rules of the house(hold)".[1] Political economy was the earlier name for the subject, but economists in the latter 19th century suggested 'economics ' as a shorter term for 'economic science ' that also avoided a narrow political-interest connotation and as similar in form to 'mathematics ', 'ethics ', and so forth.[2]
ECONOMICS OF PRODUCTION
Average yields in the Region are about 4 tonnes per ha, although some orchards in Australia, China and elsewhere can produce 15 tonnes per ha, under close spacings and intensive tree management. The price for fruit varies with year, season and cultivar. Early fruit in Guangdong fetch US$2 per kg, whereas the bulk of the crop is sold at half this price in the middle of the season. Premium cultivars with small seeds such as “No Mai Chee” and “Kwai May” can sell for US$10 or more per kg in a light year. Prices for export fruit are normally higher than those sold locally. In both markets, lychees are also more expensive than the related longan. Little information is available on the profitability of enterprises within the Region. An analysis in Australia showed that trees could be as profitable as alternative crops such as avocado,
In economics, production is the act of creating output, a good or service which has value and contributes to the utility of individuals.[1] The act may or may not include factors of production other than labor. Any effort directed toward the realization of a desired product or service is a "productive" effort and the performance of such act is production. The relation between the amount of inputs used in production and the resulting amount of output is called the production function.
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία (oikonomia, "management of a household, administration") from οἶκος (oikos, "house") + νόμος (nomos, "custom" or "law"), hence "rules of the house(hold)".[1] Political economy was the earlier name for the subject, but economists in the latter 19th century suggested 'economics ' as a shorter term for 'economic science ' that also avoided a narrow political-interest connotation and as similar in form to 'mathematics ', 'ethics ', and so forth.[2]
ECONOMICS OF PRODUCTION
Average yields in the Region are about 4 tonnes per ha, although some orchards in Australia, China and elsewhere can produce 15 tonnes per ha, under close spacings and intensive tree management. The price for fruit varies with year, season and cultivar. Early fruit in Guangdong fetch US$2 per kg, whereas the bulk of the crop is sold at half this price in the middle of the season. Premium cultivars with small seeds such as “No Mai Chee” and “Kwai May” can sell for US$10 or more per kg in a light year. Prices for export fruit are normally higher than those sold locally. In both markets, lychees are also more expensive than the related longan. Little information is available on the profitability of enterprises within the Region. An analysis in Australia showed that trees could be as profitable as alternative crops such as avocado,
References: [edit] Natural resources Ayres and Warr (2009) are among the economists who criticize orthodox economics for overlooking the role of natural resources and the effects of declining resource capital.[8] See also: Natural resource economics