reviewer
問題一覧
1
illuminates us into understanding the behavior of the business firm. The goal of producers or business firms is to maximize profit.
production theory
2
is the process of altering resources or inputs so they satisfy more needs and wants. It is the transformation of inputs or resources into outputs of goods and services. In another definition, it is the process of combining inputs to make outputs
production
3
is an input whose usage can change
variable input
4
on the other hand is an input whose quantity must remain constant, regardless of how much output is produced. cannot be changed in the short run
fixed input
5
the use of at least one factor of production cannot be changed, or there are fixed inputs
short run
6
all factors can be changed. In other words, all inputs are variable.
long run
7
are the payment for the output sold
revenues
8
shows the relationship between quantity of inputs used to make a good and the quantity of output of that good. It can be expresses as an equation, table or graph showing the maximum output of a commodity that a firm can produce per period of time with each set of inputs.
production function
9
is the output produced by using different quantities of an input with fixed quantities of the other. It is the market value of the inputs used in production
total product
10
is the output divided by the variable input used
average product
11
is the change in TP per unit change in the variable input used
marginal product
12
It is the "property whereby the marginal product of an input declines as the quantity of the input increases
law of diminishing marginal returns
13
is the increase in total cost resulting from hiring an additional unit of the variable resource.
marginal resource cost
14
shows the various combinations of two inputs that the firm can use to produce a specific level of output. Any point in the isoquant yields the same level of output. Economic region of production is given by the negatively sloped segment of the isoquant. They are negatively sloped, convex to the origin and do not intersect
isoquant
15
is the amount of capital that a producer is willing to give up in exchange for labor. It is the slope of the isoquant. The convex shape of the isoquant illustrates the willingness of the producer to give up one unit of input for another
marginal rate of technical substitution
16
line is a set of combinations of labor and capital that yield the same total cost for the firm. It shows the various combinations of inputs that a firm can purchase or hire at given costs
isocost
17
is the tangency of the isocost and the isoquant. It maximizes production at the given outlay and prices of capital and labor
producer equilibrium
18
is a line that connects the cost minimizing input combinations as the quantity of output, Q varies, holding input prices constant
expansion path
19
These are costs that do not vary with output. Examples of these costs are depreciation of buildings and machineries, rent expenses on leased plant, and interest payments on borrowed capital
total fixed cost
20
these are costs that vary with output. Examples are raw materials, wages, tax payments, and operating expenses (electricity, fuel and water
total variable cost
21
it is the sum of total fixed costs and toral variable costs
total cost
22
This refers to the total fixed costs divided by the number of output produced
average fixed cost
23
This refers to the total variable costs divided by the number of output produced
average variable cost
24
This refers to the total output divided by the number of output produced
average total cost
25
Refers to the change in total cost divided by the change in output produced. It is the additional cost incurred from producing additional unit of output
marginal cost
26
are input costs that require an outlay of money by the firm. These are the costs of inputs that producers are willing to pay at market prices.
explicit cost
27
are costs that do not need the outlay of money by the firm. These are the opportunity costs of buying inputs. This includes the alternative cost of investment, time or rate of return.
implicit cost
28
• a market with many buyers and sellers trading identical products so that each buyer and seller is a price taker
• There are many buyers and many sellers in the market.
• The goods offered by the various sellers are largely thesame.
• Firms can freely enter or exit the market.
competitive market
29
Competitors are not able to enter the market, and the monopoly can easily prevent competition from developing their foothold in an industry by acquiring the competition.
high or no barriers to entry
30
There is only one seller in the market, meaning the company becomes the same as the industry it serves.
single seller
31
The company that operates the monopoly decides the price of the product that it will sell without any competition keeping their prices in check. As a result, monopolies can raise prices at will.
price maker
32
A monopoly often can produce at a lower cost than smaller companies
economies of scale
33
is a means of communication with the users of a product or service.
advertising
34
are messages paid for by those who send them and are intended to inform or influence people who receive them.
advertisement
35
Television ads and radio ads
broadcast advertising
36
Brochures, flyers, and other forms of printed materials sent in the mail are all forms of
direct mail advertising
37
Billboards and advertisements on public transportation are forms of
outdoor advertising
38
Newspapers, magazines
print advertising
39
Movies, dramas
product placement advertising
james delapa · 27問 · 2年前
27問 • 2年前james delapa
james delapa · 27問 · 2年前
27問 • 2年前james delapa
james delapa · 27問 · 2年前
27問 • 2年前james delapa
james delapa · 38問 · 1年前
38問 • 1年前james delapa
james delapa · 35問 · 1年前
35問 • 1年前james delapa
TQM8
TQM8
james delapa · 26問 · 1年前TQM8
TQM8
26問 • 1年前TQM9
TQM9
james delapa · 38問 · 1年前TQM9
TQM9
38問 • 1年前問題一覧
1
illuminates us into understanding the behavior of the business firm. The goal of producers or business firms is to maximize profit.
production theory
2
is the process of altering resources or inputs so they satisfy more needs and wants. It is the transformation of inputs or resources into outputs of goods and services. In another definition, it is the process of combining inputs to make outputs
production
3
is an input whose usage can change
variable input
4
on the other hand is an input whose quantity must remain constant, regardless of how much output is produced. cannot be changed in the short run
fixed input
5
the use of at least one factor of production cannot be changed, or there are fixed inputs
short run
6
all factors can be changed. In other words, all inputs are variable.
long run
7
are the payment for the output sold
revenues
8
shows the relationship between quantity of inputs used to make a good and the quantity of output of that good. It can be expresses as an equation, table or graph showing the maximum output of a commodity that a firm can produce per period of time with each set of inputs.
production function
9
is the output produced by using different quantities of an input with fixed quantities of the other. It is the market value of the inputs used in production
total product
10
is the output divided by the variable input used
average product
11
is the change in TP per unit change in the variable input used
marginal product
12
It is the "property whereby the marginal product of an input declines as the quantity of the input increases
law of diminishing marginal returns
13
is the increase in total cost resulting from hiring an additional unit of the variable resource.
marginal resource cost
14
shows the various combinations of two inputs that the firm can use to produce a specific level of output. Any point in the isoquant yields the same level of output. Economic region of production is given by the negatively sloped segment of the isoquant. They are negatively sloped, convex to the origin and do not intersect
isoquant
15
is the amount of capital that a producer is willing to give up in exchange for labor. It is the slope of the isoquant. The convex shape of the isoquant illustrates the willingness of the producer to give up one unit of input for another
marginal rate of technical substitution
16
line is a set of combinations of labor and capital that yield the same total cost for the firm. It shows the various combinations of inputs that a firm can purchase or hire at given costs
isocost
17
is the tangency of the isocost and the isoquant. It maximizes production at the given outlay and prices of capital and labor
producer equilibrium
18
is a line that connects the cost minimizing input combinations as the quantity of output, Q varies, holding input prices constant
expansion path
19
These are costs that do not vary with output. Examples of these costs are depreciation of buildings and machineries, rent expenses on leased plant, and interest payments on borrowed capital
total fixed cost
20
these are costs that vary with output. Examples are raw materials, wages, tax payments, and operating expenses (electricity, fuel and water
total variable cost
21
it is the sum of total fixed costs and toral variable costs
total cost
22
This refers to the total fixed costs divided by the number of output produced
average fixed cost
23
This refers to the total variable costs divided by the number of output produced
average variable cost
24
This refers to the total output divided by the number of output produced
average total cost
25
Refers to the change in total cost divided by the change in output produced. It is the additional cost incurred from producing additional unit of output
marginal cost
26
are input costs that require an outlay of money by the firm. These are the costs of inputs that producers are willing to pay at market prices.
explicit cost
27
are costs that do not need the outlay of money by the firm. These are the opportunity costs of buying inputs. This includes the alternative cost of investment, time or rate of return.
implicit cost
28
• a market with many buyers and sellers trading identical products so that each buyer and seller is a price taker
• There are many buyers and many sellers in the market.
• The goods offered by the various sellers are largely thesame.
• Firms can freely enter or exit the market.
competitive market
29
Competitors are not able to enter the market, and the monopoly can easily prevent competition from developing their foothold in an industry by acquiring the competition.
high or no barriers to entry
30
There is only one seller in the market, meaning the company becomes the same as the industry it serves.
single seller
31
The company that operates the monopoly decides the price of the product that it will sell without any competition keeping their prices in check. As a result, monopolies can raise prices at will.
price maker
32
A monopoly often can produce at a lower cost than smaller companies
economies of scale
33
is a means of communication with the users of a product or service.
advertising
34
are messages paid for by those who send them and are intended to inform or influence people who receive them.
advertisement
35
Television ads and radio ads
broadcast advertising
36
Brochures, flyers, and other forms of printed materials sent in the mail are all forms of
direct mail advertising
37
Billboards and advertisements on public transportation are forms of
outdoor advertising
38
Newspapers, magazines
print advertising
39
Movies, dramas
product placement advertising