Submitted to Submitted by INTRODUCTION Lean manufacturing‚ lean enterprise‚ or lean production‚ often simply‚ "Lean"‚ is a production practice that considers the expenditure of resources for any goal other than the creation of value for the end customer to be wasteful‚ and thus a target for elimination. Working from the perspective of the customer who consumes a product or service‚ "value" is defined as any action or process that a customer would be willing to pay for. Essentially
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Ethanol Production Ethanol is the type of alcohol found in alcoholic drinks such as wine and beer. Its chemical formula is: C2H5OH. Glucose from plant material is converted into ethanol and carbon dioxide by fermentation. The enzymes found in yeast (single-celled fungi) are the natural catalysts that can make this process happen. Here is the word equation: Sugar → Ethanol + Carbon Dioxide
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Sugar was not only a stimulant to consumers but also for anyone else in the production of it‚ more and more sugar was being demanded‚ perhaps because of it accessibility or the money that came out of it. If it weren’t for producers‚ consumers‚ and entrepreneurs sugar production would not have been one of the biggest productions of a crop in the world. The organization of sugar met the needs of producers‚ because sugar production was profitable and did not consist of many owners; it met the needs of consumers
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To understand how growth can occur‚ we need to consider the factors of production. Economists observe that in the production of any good‚ four factors of production are involved. These are 1. Land The physical land‚ but also comprising all the natural resources on the earth‚ below the earth or in the atmosphere. There is a distinction between renewable and non-renewable resources. Renewable resources are those that can be used and replaced. For example‚ water in a lake can be used‚ but can
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We are all made of corn. Take a strand of your hair. A recent study proved that if you are like the average American consumer today‚ your hair is 69% made of corn carbon. This is in contrast to the 5% of corn carbon that is in the hair of Europeans. Americans use more corn in their diet than anyone else‚ and the corn content of the American diet is partially responsible for our country’s widespread obesity and the prevalence of diabetes. America’s over-production of corn has serious consequences
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Electronic cigarettes are modern devices that are beginning to make smoking look fashionable again. Companies of the products trick consumers by claiming the products are safe‚ and offer lower prices as a way to reel in their customers. The consumers do not know that they are falling into a marketing trap. As electronic cigarettes are becoming increasingly popular and acceptable‚ more individuals are using the devices as a substitute to traditional cigarettes. The devices are used to inhale nicotine
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To learn the ropes of music production‚ one can learn to be a producer by attending recording or music school. However recording school is not for everyone‚ It can be too expensive for some and too “academic” for others. A music producer’s job can be as easy as sitting on the couch listening and nodding and as active as controlling the mixer as well as calibrating the equipment for a vocalist. Good music producers understand every aspect of studio production. They also have a very good ear and
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Ralph T. Byrns Modern Microeconomics 2001 © Chapter 8 The Costs of Production Production and Costs Costs in the Short Run Fixed Costs Implicit Costs Explicit Costs Variable Costs Average Costs Marginal Costs The Symmetry Between Production and Costs Total Product and Total Cost Curves Geometry of Average and Marginal Costs Curves Average Physical Product and Average Variable Costs Marginal Physical Product and Marginal Cost Costs in the Long Run Isocost Lines Cost Minimization The
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BOYAN JOVANOVIC New YorkUniversity The Diversification of Production produce more than one product. In this sense their production is diversified‚ or horizontally integrated. This paper addresses two questions. First‚ why have firms become more diversified over the past century? And second‚ why are diversified firms more oriented toward research and development (R&D) than nondiversified firms? I tackle these two questions under the assumption that a firm diversifies to maximize its efficiency
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India is one of the major coffee producing countries and ranks sixth in the world after Brazil‚ Columbia‚ Vietnam‚ Indonesia and Mexico. With only about 2 per cent share in the global coffee area‚ India contributes about 4 per cent towards the world production and between 4 to 4.5 per cent of global coffee exports. In India‚ coffee is cultivated in about 4.10 lakh hectares mainly confined to southern states of Karnataka (57%)‚ Kerala (21%) and Tamil Nadu (8%)‚ which form traditional coffee tracts. Coffee
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