Comprehensive Guide to Microeconomics: From PPC to Isoquants
Production Possibility Curve (PPC) or Production Possibility Frontier (PPF)
PPC or PPF shows the various combinations of two commodities that can be produced with the latest technology available and within given resources utilized fully and efficiently.
Assumptions
- Only 2 commodities
- Latest technology
- Fuller utilization of resources
Features of Production Possibility Curve
- PPC slopes downward: Production of one good can be increased only after sacrificing the production of some quantity of the other good.
Comprehensive Guide to Microeconomics: From PPC to Isoquants
Production Possibility Curve (PPC) or Production Possibility Frontier (PPF)
PPC or PPF shows the various combinations of two commodities that can be produced with the latest technology available and within given resources utilized fully and efficiently.
Assumptions
- Only 2 commodities
- Latest technology
- Fuller utilization of resources
Features of Production Possibility Curve
- PPC slopes downward: Production of one good can be increased only after sacrificing the production of some quantity of the other good.
Comprehensive Guide to Microeconomics: From PPC to Isoquants
Production Possibility Curve (PPC) or Production Possibility Frontier (PPF)
PPC or PPF shows the various combinations of two commodities that can be produced with the latest technology available and within given resources utilized fully and efficiently.
Assumptions
- Only 2 commodities
- Latest technology
- Fuller utilization of resources
Features of Production Possibility Curve
- PPC slopes downward: Production of one good can be increased only after sacrificing the production of some quantity of the other good.
Strategic Marketing: Cost Analysis, Product Launch & Market Strategies
Strategic Marketing
Strategy
The strategy is a response to external threats and opportunities, as well as internal strengths and weaknesses. It consists of a description of the marketing mix and actions that will be carried out to achieve the objectives. It is the most creative part of the marketing plan. There are three key strategic levels:
- Corporate Strategy: Affects the entire organization.
- Functional Strategy: Implemented by strategic business units.
- Product Strategy: Focuses on individual products
Classical Management Theory Overview
Classical Management Theory
Manufacturing
The craftsman traditionally worked at home. However, the broker began to gather scattered workers in one place, creating a division of labor. This division increased production power and reduced production costs. As a result, the worker became an employee, and the employer and broker transformed into powerful capitalists. From an economic standpoint, manufacturing exhibited all the characteristics of modern business. However, from a technical perspective,
Read MoreQuality in Construction and Architecture: A Comprehensive Guide
1. Quality in Construction and Architecture
1.1. Introduction
Definitions
The Royal Spanish Academy defines quality as the property or set of properties inherent in something that allows us to appreciate it as equal to, better than, or worse than others of its kind.
In construction, quality refers to the condition or set of conditions by which a product can meet the needs of a group or population.
Other Definitions:
- QUALITY: The degree to which a set of inherent characteristics fulfills requirements (