Micro mid theory of production
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Production requires inputs of land, labor, capital, and entrepreneurship to create outputs of goods and services. Land includes natural resources while labor consists of human physical and mental work. Capital refers to manufactured goods used to produce other goods. Inputs are either fixed, remaining constant regardless of production levels, or variable, changing with the quantity produced. The law of diminishing returns states that as variable inputs are increased with fixed inputs held constant, total product increases but at a decreasing rate, with smaller increases in output for each additional unit of input. Marginal product is the additional output from adding a unit of a variable input while holding other inputs fixed.
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For downloading this contact- bikashkumar.bk100@gmail.com
Prepared by Students of University of Rajshahi
MD: ANISUR RAHMAN
FARHANA AKTER
MD: HASANUZZAMAN
RIFATULLAH
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For downloading this contact- bikashkumar.bk100@gmail.com
Prepared by Students of University of Rajshahi
MD: ANISUR RAHMAN
FARHANA AKTER
MD: HASANUZZAMAN
RIFATULLAH
RIMA AKTER
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Production involves combining inputs like materials, plans, and knowledge to create outputs that are of value. There are several types of production processes, including project-based production for unique goods, batch production where similar items are made in stages, mass production to create standardized goods at large volumes, and flow production which operates continuously. The key factors of production are land, labor, capital, and entrepreneurship. Entrepreneurship combines the other factors to turn them into a product or service for consumers.
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sustainability. For a long time, the central issues addressed in the discipline of business history
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Production function
Paul H. Douglas, Professor at the University of Chicago introduced the production function in 1934. Another prominent economist Robert Solow has also conducted extensive research and found out how the technological progress has improved the productivity of inputs, viz., capital and labour in America.
In modern terminology, the various factors like land, labour, capital, organization skill, raw materials and other factors made use of in production are given a wider connotation called inputs. The product realized due to the inputs is called output. Inputs indicate the cost involved in procuring various factors, commodities as raw materials, power, etc., while output indicates the goods and services produced. Production is a process in which the physical inputs are transformed into physical output. The output is thus the function of inputs. The functional relationship between physical inputs and physical outputs of a firm is known as a production function. The production function is a catalogue of output possibilities.
Similar to Micro mid theory of production (6)
More from San Antonio de Padua - Center for Alternative Mathematics
Interpretation of capital structure measures. fm2
Interpretation of capital structure measures. fm2San Antonio de Padua - Center for Alternative Mathematics
The document discusses capital structure measures that can be used to analyze a firm's financial health and solvency. It identifies three key measures: 1) Capital structure, which includes a firm's sources of financing through equity and debt. 2) Earning power, which is the firm's ability to generate cash flows. 3) Asset coverage, which provides assurance to creditors that the firm can pay its long-term obligations by analyzing ratios of assets to debt and equity. Various asset coverage ratios are explained, including fixed asset to equity ratio and net tangible asset ratios.12 investment banking
This document discusses various topics related to mergers and acquisitions including arranging mergers, developing defensive tactics, establishing fair value, financing mergers, and arbitrage operations. Arbitrage operations refers to simultaneously buying and selling the same commodity or security in two different markets at different prices to earn a risk-free return.
11 mergers and business health
Mergers and acquisitions as well as other strategic corporate partnerships like joint ventures, leveraged buyouts, and divestitures such as spin-offs and carve-outs are undertaken by companies to create value, but it is debated whether they actually achieve this goal. Different forms of corporate alliances include joint ventures, which involve two independent companies combining resources for a specific objective, and strategic alliances which are cooperative deals that stop short of a full merger. Private equity investments leverage debt to buy companies, while divestitures sell off some operating assets.
10 mergers and acquisitions
This document discusses mergers and acquisitions. It defines a merger as the combination of two or more firms to form a single firm. It lists some rationales for mergers, including achieving synergies where the whole is greater than the sum of its parts, taking advantage of tax considerations by purchasing assets below their replacement cost, and diversification. It also outlines different types of mergers like horizontal, vertical, conglomerate, and congeneric mergers. It discusses hostile versus friendly takeovers and the roles of the acquiring and target companies. It notes that merger analysis involves the acquiring firm valuing the target to determine if it can be purchased at or below that value, and the target accepting if the price exceeds its independent value or what another
8 hybrid financing
This document discusses hybrid financing through preferred stock. Preferred stock is a type of stock that promises a fixed dividend but payment is at the discretion of the board. It has preference over common stock for dividend payments and claims on assets up to par value. Key features of preferred stock include cumulative dividends that must be paid before common dividends, participating dividends that increase with common dividends, and potential voting rights in special situations. Advantages are that missed preferred dividends do not cause bankruptcy as with bonds, it avoids dilution of common equity, and repayment is spread over long periods. Disadvantages are preferred dividends are not tax deductible, so cost is higher than debt, and their use increases financial risk and cost of
7 dividends and capital gains
1) A company's dividend policy involves decisions around paying out earnings as dividends versus retaining earnings, including whether to pay high or low dividends, pay stable or irregular dividends, and the frequency of dividend payments.
2) The residual dividend model suggests that a company should first determine the retained earnings needed for its capital budget, and then pay out any remaining earnings as dividends.
3) A change in a company's investment opportunities would affect its dividends under the residual model, with fewer good investments leading to higher dividends and more investments leading to lower dividends.
4 the basic of capital budgeting
This document discusses capital budgeting and provides an overview of key concepts and methods used to evaluate long-term investment projects. It defines capital budgeting, outlines the steps, and distinguishes between independent and mutually exclusive projects. It then describes five decision criteria - net present value (NPV), internal rate of return (IRR), modified internal rate of return (MIRR), payback period, and discounted payback period. For each method, it provides the calculation and discusses strengths and weaknesses. The document concludes that NPV is the best single criterion but notes that the various methods provide different perspectives on project profitability and liquidity.
3 the cost of capital
This document discusses the weighted average cost of capital (WACC) calculation for a firm with multiple sources of capital (debt, preferred stock, common equity). It provides an example calculation showing the cost, proportion of total financing, and weighted cost for each source. The weighted costs are summed to calculate the overall WACC of 11.38%. The document also discusses assumptions and methods used in the WACC calculation, such as using after-tax costs and a constant growth valuation model to determine the cost of equity.
2 stocks and their valuation
This document discusses different types of stocks including preferred stock and common stock. It provides details on:
- Preferred stock features such as cumulative dividends, participating features, voting rights, and call and sinking fund provisions. It also discusses preferred stock valuation using the present value formula.
- Common stock as the ultimate ownership in a corporation with rights to income, voting, and potential preemptive rights. It discusses common stock valuation using the dividend discount and constant growth dividend discount models.
- Examples are provided to demonstrate the calculations for valuing preferred and common stock.
Ready to present
This document discusses stress in the workplace and employee counseling. It begins by defining stress and listing typical negative symptoms like physical, psychological, and behavioral issues. It then covers extreme forms of stress like burnout and trauma. Common causes of stress are discussed, including organizational stressors and non-work stressors. The relationship between stress and job performance is explained, noting that stress can be either helpful or harmful depending on its level. Approaches to managing stress are presented, such as preventing or reducing stressors, escaping stressful situations, and learning coping techniques. Finally, the document outlines different types of employee counseling including directive, nondirective, and participative counseling and discusses their objectives and functions.
Issues between organizations and individuals
Issues between organizations and individualsSan Antonio de Padua - Center for Alternative Mathematics
This document discusses several topics related to organizational behavior and human resources management. It covers models of organizational influence, employee privacy rights, bases for discrimination, using discipline to change behaviors, quality of work life programs, job enrichment, individual-organization responsibilities, and whistleblowing. Specific issues covered include defining boundaries of influence, interpreting privacy rights, forms of discipline, job characteristics that motivate workers, benefits and limitations of job enrichment, and balancing individual and organizational interests.Formal and informal groups
This document discusses group dynamics and techniques for effective group decision making. It describes key concepts in group dynamics including formal vs informal groups, task vs social leadership roles, and influences of group size and composition. Techniques for structured group decision making are explored, such as brainstorming, nominal groups, Delphi groups, and dialectic decision methods. Potential benefits of group decisions are mentioned along with some weaknesses, including that meetings can be slow, expensive, and prone to "groupthink" where conformity overrides critical thinking.
Chapter 11 interpersonal behavior (1)
This chapter discusses interpersonal behavior in organizations. It covers conflict, assertiveness, power, and politics. The key topics are:
- Conflict can arise from disagreements over goals/methods, task interdependence, roles/rules, and personality differences.
- Assertiveness involves expressing feelings and giving honest feedback. Different interpersonal orientations exist such as dominance.
- Power is the ability to influence others and events. Types of power include personal, legitimate, expert, reward, and coercive power.
- Organizational politics involves intentional behaviors to enhance influence through tactics like social exchange, alliances, and controlling information.
Chapter 8 empowerment and participation & managing change
Chapter 8 empowerment and participation & managing change San Antonio de Padua - Center for Alternative Mathematics
The document discusses empowerment and participation in organizations. It explains that empowerment involves giving employees greater autonomy through sharing information and control over job factors to improve self-efficacy. Participation means the mental and emotional involvement of employees through contribution and responsibility. When prerequisites are met, participation programs can benefit both employees and employers by increasing motivation, output, and communication. However, limitations include lack of management support and difficulties adjusting manager roles.Chapter 7 leadership1
This document discusses leadership and different leadership styles. It begins by defining leadership as influencing and supporting others to work enthusiastically toward achieving objectives. It then discusses:
1. The differences between managers and leaders. Managers direct work while leaders inspire others through vision.
2. Traits of effective leaders such as honesty, drive and skills in technical, human and conceptual areas.
3. Behavioral styles including positive, negative, autocratic, consultative and participative.
4. Contingency models for selecting a leadership style based on the situation, including Fiedler's model of leader-member relations, task structure and power, and Blanchard's model of employee development level.
Chapeter 6 appraising and rewarding performance
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This document discusses performance appraisal and reward systems. It provides learning objectives about understanding the role of money as a motivator and examines behavioral considerations in performance evaluations. It describes characteristics of effective feedback programs and the process of attribution. It discusses linking pay to performance through profit sharing, gain sharing and skill-based programs. The document provides an overview of different components of a complete reward program and discusses economic incentive systems for motivating employees.Course overview in hbo
This document provides an overview and orientation for a course on Human Behavior in Organizations. The 3-sentence summary is:
The course will cover fundamental principles and theories of organizational and individual relations, examining how internationalization and diversity impact the modern workforce. Students will be evaluated based on quizzes, presentations, papers, assignments, and class participation, with grades determined by combining scores on class requirements and major exams. The semester will be structured around topics like motivation, leadership, and interpersonal behavior, culminating in a final exam.
Chapter 4 managing communications hbo
This document discusses managing communications in organizations. It covers key topics like the two-way communication process, barriers to communication, effective communication factors, and downward and upward communication problems. Specific sections explain communication fundamentals, the importance of communication to organizations, non-verbal communication, downward and upward communication challenges, and guidelines for effective listening. The document aims to understand different aspects of the communication process in organizational settings.
Chapter 3 social system and organizational culture
Chapter 3 social system and organizational cultureSan Antonio de Padua - Center for Alternative Mathematics
This document discusses social systems and organizational culture. It defines a social system as a complex set of interacting human relationships where all parts are interdependent. It examines how social cultures impact organizations and the roles and conflicts that can arise. It also explains that strong organizational cultures tend to outperform peers and discusses measuring and changing organizational culture.Chapter 2 models of organizational behavior
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The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.More from San Antonio de Padua - Center for Alternative Mathematics (20)
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1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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Micro mid theory of production
- 2. Production Function Production is the creation of goods and services using inputs. Outputs refer to the goods and services that have been created using the production inputs. Inputs of production refer to land, labor, capital, and entrepreneurship (factors of production).
- 3. LAND Pertains to natural resources, not man- made. Includes everything found on or under land, including mountains, bodies of water (like rivers, lakes, ocean), minerals, air and sunlight.
- 4. LABOR Consists of power or capacity of human beings. Physical and mental Applies not only to workers, farmers of laborers, but also to professionals like accountants, economists, or scientists.
- 5. CAPITAL Anything used to produce other goods Money, machineries, tools
- 6. Types of Inputs Fixed Inputs – those that remain constant regardless of the volume of production or quantity of production. Where there is production or none, the factors of production are unchanged
- 7. VARIABLE INPUTS Those that vary in accordance with the volume or quantity of goods or services [produced. If there is no production, then, there is no variable input.
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- 9. TOTAL PRODUCT (TP) Total production or output
- 10. MARGINAL PRODUCT (MP) THE ADDITIONAL OUTPUT PRODUCED BY ADDING UNITS OF INPUT (X) HOLDING THE LEVEL OF USAGE OF ALL OTHER INPUTS CONSTANT