You need resources to produce goods and services. Relative to the needs and wants of businesses and people, however, the economic resources to produce them are finite, and therefore subject to ...

As a manufacturer or production manager, production planning is important in knowing what needs to be done to meet production deadlines or targets. Drafting an effective production plan that has the ...

I will want to also add a few more phenomena to inform a new thinking around ‘Factors of Production’, and by extension, to help power up productivity, especially in Nigeria and Africa. This is because ...

Log-in to bookmark & organize content - it's free! Watch this clip and consider the impact of the Baby Boom generation on the US labor force in the 1970's-1980's. How would this change in the adult ...

Can the biodiversity of ecosystems be considered a factor of production? Researchers are studying the economic benefits that farmers and foresters can obtain by focusing on several species instead of ...

Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Thomas J. Brock is a CFA and CPA with more than 20 years of ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Chip Stapleton is a Series 7 and Series 66 license holder, CFA Level 1 exam holder, and currently holds a Life, ...

The law of diminishing returns is a concept of economics that every entrepreneur should understand. Also known as the law of diminishing marginal returns, this law helps entrepreneurs and economists ...