Friday  September 20, 2024
 AmosWEB means Economics with a Touch of Whimsy!
 DISCOUNT: In financial terms, a bond or similar financial asset that sells below its face value. Discounting is done to equalized the interest rate attached to a bond with comparable interest rates in the economy. For example, a \$100,000 bond that pays a fixed 10 percent interest on the face value (that is, \$10,000 annually) would be discounted to \$83,333 if comparable interest rates were above 12 percent. As such, the \$10,000 annual interest payment works out to be 12 percent of a \$83,333 price.
 Most Viewed (Number) production stages (500)factor payments (308)marginal physical product (224)complement-in-production (186)assumptions, production possibilities (174) Visit the WEB*pedia

PRODUCTION FUNCTION: A mathematical relation between the production of a good or service and the inputs used. A production function is usually expressed in this general form: Q = f(L, K), where Q = quantity of production output, L = quantity of labor input, and K = quantity of capital input.

Recommended Citation:

PRODUCTION FUNCTION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: September 20, 2024].

AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: production function

Search Again?

SEVENTH RULE OF COMPLEXITY

The seventh of seven basic rules of the economy, stating that every action in the complex world has direct and often intended consequences combined with indirect and probably unintended effects.

 BLACK DISMALAPOD[What's This?] Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either a coffee cup commemorating last Friday (you know why) or a wall poster commemorating the first day of spring. Be on the lookout for the happiest person in the room.Your Complete Scope
 A half gallon milk jug holds about \$50 in pennies.
 "Man is born to live, not to prepare for life. "-- Boris Pasternak, writer