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rate of production curve

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  • Production theory basics — In microeconomics, Production is simply the conversion of inputs into outputs. It is an economic process that uses resources to create a commodity that is suitable for exchange. This can include manufacturing, storing, shipping, and packaging.… …   Wikipedia

  • Production–possibility frontier — In economics, a production–possibility frontier (PPF), sometimes called a production–possibility curve or product transformation curve, is a graph that compares the production rates of two commodities that use the same fixed total of the factors… …   Wikipedia

  • production, theory of — ▪ economics Introduction       in economics, an effort to explain the principles by which a business firm decides how much of each commodity that it sells (its “outputs” or “products”) it will produce, and how much of each kind of labour, raw… …   Universalium

  • Production-possibility frontier — In economics, a production possibility frontier (PPF) or “transformation curve” is a graph that shows the different rates of production of two goods that an economy (or agent) could efficiently produce with limited productive resources. Points… …   Wikipedia

  • Production function — Graph of Total, Average, and Marginal Product In microeconomics and macroeconomics, a production function is a function that specifies the output of a firm, an industry, or an entire economy for all combinations of inputs. This function is an… …   Wikipedia

  • Hubbert curve — The Hubbert curve projects the rate of oil production over time, and is the main component of Hubbert peak theory. It was first proposed by geophysicist M. King Hubbert in the mid 1950s during his tenure at the Shell Oil Company. [cite journal |… …   Wikipedia

  • Hubbert Curve — A statistical theory of oil production that states that the rate of extraction from a particular region follows a bell shaped curve. Initially, while there are minimum drilling operations the rate of production is limited. However, as… …   Investment dictionary

  • Phillips curve — The Phillips curve is a historical inverse relation between the rate of unemployment and the rate of inflation in an economy. Stated simply, the lower the unemployment in an economy, the higher the rate of increase in wages paid to labor in that… …   Wikipedia

  • Cost curve — In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms use these curves to find the optimal point of production (minimising cost), and… …   Wikipedia

  • Experience curve effects — Experience curve re directs here. For its use in video games see Experience point. The learning curve effect and the closely related experience curve effect express the relationship between experience and efficiency. As individuals and/or… …   Wikipedia

  • Natural rate of unemployment (monetarism) — The natural rate of unemployment (sometimes called the structural unemployment rate) is a concept of economic activity developed in particular by Milton Friedman and Edmund Phelps in the 1960s, both recipients of the Nobel prize in economics. In… …   Wikipedia


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