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Flashcard 1428160122124

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
At its simplest level, production of a good consists of transforming [...].

Answer
inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services

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At its simplest level, production of a good consists of transforming inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services. Economists refer to the “rules” that govern this transformation as the technology of production . Because producers have to purchase inputs in factor markets, the cost of production de

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3.3. The Supply Function and the Supply Curve
between those two values, the greater is the willingness of producers to supply the good. In another reading, we will explore the cost of production in greater detail. At this point, we need to understand only the basics of cost. <span>At its simplest level, production of a good consists of transforming inputs, or factors of production (such as land, labor, capital, and materials) into finished goods and services. Economists refer to the “rules” that govern this transformation as the technology of production . Because producers have to purchase inputs in factor markets, the cost of production depends on both the technology and the price of those factors. Clearly, willingness to supply is dependent on not only the price of a producer’s output, but also additionally on the prices (i.e., costs) of the inputs necessary to produce it. For si







Flashcard 1428176112908

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Question
the supply function , depends on [...] as well as [...] . The greater the difference between those two values, the greater is the willingness of producers to supply the good.
Answer
the price at which the good can be sold

the cost of production for an additional unit of the good

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the supply function , depends on the price at which the good can be sold as well as the cost of production for an additional unit of the good. The greater the difference between those two values, the greater is the willingness of producers to supply the good

Original toplevel document

3.3. The Supply Function and the Supply Curve
ervice is called supply. In general, producers are willing to sell their product for a price as long as that price is at least as high as the cost to produce an additional unit of the product. It follows that the willingness to supply, called <span>the supply function , depends on the price at which the good can be sold as well as the cost of production for an additional unit of the good. The greater the difference between those two values, the greater is the willingness of producers to supply the good. In another reading, we will explore the cost of production in greater detail. At this point, we need to understand only the basics of cost. At its simplest level, productio







Flashcard 1430802271500

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Question
Within bundles, the first assumption we make about a given consumer’s preferences is simply that she is able to [...].
Answer
make a comparison between any two possible bundles

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Given the understanding of consumption bundles (what defines a bundle), the first assumption we make about a given consumer’s preferences is simply that she is able to make a comparison between any two possible bundles. That is, given bundles A and B, she must be able to say either that she prefers A to B, or she prefers B to A, or she is indifferentbetween the two. This is the assumption of complete

Original toplevel document

3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
ntity of one or more of the goods. For example, bundle Amight have the same amount of all but one of the goods and services as bundle B but a different amount of that one. Bundles A and B would be considered two distinct bundles. <span>Given this understanding of consumption bundles, the first assumption we make about a given consumer’s preferences is simply that she is able to make a comparison between any two possible bundles. That is, given bundles A and B, she must be able to say either that she prefers A to B, or she prefers B to A, or she is indifferentbetween the two. This is the assumption of complete preferences (also known as the axiom of completeness), and although it does not appear to be a particularly strong assumption, it is not trivial either. It rules out the possibility that she could just say, “I recognize that the two bundles are different, but in fact they are so different that I simply cannot compare them at all.” A lov







Flashcard 5961817132300

Question
更新作图
Answer
[default - edit me]

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[unknown IMAGE 5961837055244] #dynamics #engineering-mechanics #has-images #particle #statics
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[unknown IMAGE 5961840463116] #dynamics #engineering-mechanics #has-images #rigid-body #statics
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[unknown IMAGE 5961844395276] #dynamics #engineering-mechanics #has-images #particle #statics
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[unknown IMAGE 5961848065292] #concentrated-force #dynamics #engineering-mechanics #has-images #statics
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Flashcard 5961851211020

Question
Das Wesentliche einer Regelung besteht in einem Rückkopplungszweig, der dazu dient, die zu regelnde Größe (die Regelgröße) von Störeinflüssen unabhängig zu ma- chen, so dass sie stets einen vorgegebenen Wert beibehält.
Answer
[default - edit me]

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[unknown IMAGE 5961855143180] #definition #dynamics #has-images #mechanics #statics #vector-mechanics
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[unknown IMAGE 5961858551052] #definition #dynamics #has-images #mechanics #statics #vector-mechanics
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[unknown IMAGE 5962157919500] #branches #dynamics #engineering-mechanics #has-images #mechanics #statics
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[unknown IMAGE 5962162375948] #dynamics #engineering-mechanics #has-images #limitations #mechanics #statics
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[unknown IMAGE 5962322808076] #dynamics #has-images #mechanics #statics #studies #vector-mechanics
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[unknown IMAGE 5962833726732] #concepts #dynamics #has-images #mechanics #statics #vector-mechanics
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[unknown IMAGE 5968449637644] #dynamics #has-images #space #statics #vector-mechanics
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[unknown IMAGE 5969573448972] #engineering-mechanics #has-images #mass #statics
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#dynamics #engineering-mechanics #has-images #statics
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[unknown IMAGE 5969584196876] #dynamics #engineering-mechanics #has-images #idealizations #mechanics #statics
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#continuum #dynamics #engineering-mechanics #has-images #statics
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#dynamics #engineering-mechanics #has-images #rigid-body #statics
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[unknown IMAGE 5969606479116] #dynamics #engineering-mechanics #has-images #point-force #statics
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[unknown IMAGE 5969609886988] #dynamics #fundamental-principles #has-images #statics #vector-mechanics
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#dynamics #has-images #parallelogram-law #statics #vector-mechanics
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[unknown IMAGE 5969621945612] #dynamics #has-images #principle-of-transmissibility #statics #vector-mechanics
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#dynamics #has-images #limitations #principle-of-transmissibility #statics #vector-mechanics
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#Newton-first-law #engineering-mechanics #has-images #statics
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#dynamics #has-images #statics #vector-mechanics #weight
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[unknown IMAGE 5969658907916] #dynamics #further-discussion #has-images #principles #statics #vector-mechanics
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[unknown IMAGE 5969662315788] #dynamics #experimental-evidence #has-images #principles #statics #vector-mechanics
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[unknown IMAGE 5969665723660] #dynamics #has-images #kinetic-units #statics #vector-mechanics
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#SI-units #dynamics #has-images #statics #vector-mechanics
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[unknown IMAGE 5969674112268] #SI #absolute #dynamics #has-images #statics #system-of-units #vector-mechanics
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[unknown IMAGE 5969677520140] #US-customary-units #dynamics #has-images #statics #vector-mechanics
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#US-customary-units #dynamics #further-discussion #has-images #statics #vector-mechanics
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[unknown IMAGE 5969687481612] #dynamics #engineering-problems #has-images #numerical-accuracy #statics #vector-mechanics
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[unknown IMAGE 5969691675916] #calculations #dynamics #engineering-mechanics #has-images #statics
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