which payment to Taliuuris called
is a human factor in production, the.
wages. Because labour
頁四第六第
日七十月九年亥癸應夏
WAH KIU YAT PO
TP, AP, MP
1984
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ECONOMICS: (5)
K.K. VONG & L.T. CHAN
MALL & DALE PRESS ITH.
Factors of production
I Factors of production Since production is defined as any activity directed to satisfy human wants by manufacturing goods and services with the assistance
of available
resources,
producers require, a number of inputs in production. For
example, for growing crops, cultivated land, irrigation machinery and workers
are needed.
The factor inputs involved in the. production process
are termed factors of
production in
economics. They include all the productive resources in human economy.
Therefore, factors of production can be defined as all
productive resources. available to produce goods and services în order to satisfy
humants
wants.
There are four factors of production namely, land capital labour and
entrepreneur, Land and capital are called the non-human factors where labour and the entrepreneur“ are
called human
factors. The production units (the individual
enterprisings and firms) could make
full use of the
factors of production by combining them in the
more appropriate
t
way so as to achieve the greatest output. and maximize the profit.
Land:
Land refers not only to the site vhere production activities can be carried out, but also the natural resources made ta available from the nature. Therefore land includes agricultural lond industrial site, mineral resources, forests, mountains, seas, grasslands and climate, land is often regarded as a free gift of nature because it is provided: for everyone in the suciety. Puncheras De land is also dirited in supply.
Capital:
Capital refers to those pan-cade resources or capital goods which are
employed in every stage of production.. Usually, the capital goods are not needed directly for immediate consumption and they are used for further stage of production make consumer goods directed to the band's of consumers.
2. Labour:
to
Labour refers to all actual effort, mental and physical,
skilled and unskilled applied to the
production of goods and services and. For
provision of labour
depends upon
population, mobility
the
of labour and
social and.
psychological aspec
of the workers.
4. Entrepreneur
Entrepreneur is a
human factor.
separated from labour
Entrepreneurship refers to the
organization ability and managerial skills in production. It is because the
entrepreneur have to combine and fully utilize the other three factors of
productioning business decision making. In other words, the
entrepren ur máy b the industrialists or the navagers in the production unit. He or she has to make. vital decisions of
policy regarding the method of production to be employed and the quality of the output. In addition to receiving residual profit, the entre- preneur bears the risk of production because the firm may have the chance to suffer foss.
II.The law of diuinishing
returns,
Supposing that the production of commodity require two factors of production, land and labour. If successive units of variable factor (one wliose amount. can vary) are added to a riven quantity of a fixed factor (one wiruse amount cannot be altered), the addition of more and more units of the variable factor will in the end lead
to a decline in the additional output resulting from the
addition of an extra unit of the variable factors.
For example, in the production of wheat we are using various alternative quantities of labour per unit of time to farm a fixed amount of land and recording the
resulting alternati ve outputs of wheat per unit of time.
The average product of labour (AP!..
Tis
then defined as total product (TP) divided by the number of units of labour used. The marginal product of Tabour (MP ) is given by the change in the TP per unit change in the quantity of labour used. In the table below, and is measured in acres.
labour in
man-years
and total product (TP). in bushels.
1
Land Labour
TP AP
MP
L
༠
0
U
3
3
8
h
12
4
4
151
3
17.
الا الله
報日僑華
APL
8- Labour:
·Lon one -acre of
MPL
According to the diagram," the MP, rises
at first, reaches a naxinum (before the
L
A reaches its
maximum) and then declines, The Mp
becomes zero when the TP is maximum, and negative when the TP begins to decline. The following position of the Marrue illustrate the law of diminishing returns.
The law of diminishing returns states that if one. factor of production is increased by suali constant amounts, all other factor
quantities being held constant, then after some point the resulting increases in output. become. smaller and smaller.
This law is propounded only on the assumption that the state of technology is given and that no new
production methods are introduced during any period in which the. low applies.
III.The application of
the law of diminish- ing returns:
Band is subject tr the law of diminish-
Bột returus,
and is a "fjetor' which particularly suffered from the law of diminishing returns. If the certain quantity of the factor land is giveny with the land the entrepreneur combines increasing quantity of land or capital. It is found that sooner or later. the addition of further quantities of labour and capital would result in diminishing returns. -As a result, the
ouvjint per unit of the additional Tactors would be, decreasing.
Other factors of productions are also subject to the law of diminishing returns,
Today, the theory
of diminishing returns restricts not only and in
production, but also the other productive factors such as labour, capital and entrepreneur. Because
of the increasing
scale of production.
the losses in
production would be:
mure possible.
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(5)
5. F. KO
MILL & DALE PRESS LTD.
Exercise 5: Co-ordinate
Geometry
Worked examples:
1. Given that A(2,
·六期星
H(7,5) and C(0,-2)
and AB, AC are divided internally at E and F
such that AE÷EB÷AF÷FC. -3:2
(1) Find the co-
ordinates of E
F
(ii)Prove that EP is
BC.
-B(5)
Solution:
parallel to
-3-2
\A(2,3)
6.-23.
Tet 1
and be
AE AF EB
2 + 7 ( 3 )
4421
Then
345(3) 1 1/2
Similarly
6+15
(Ans.)
F(2, 0)
21-0
of EF
7-6
Slope of RC-5-(-2), EF//BC
(Aus.)
Given that the line; 1:x+3y=1 and the circle,
c: x2+y^ -3x-3y+2=0_ (a)Show that touches c. (b)Find the co-ordinates
of the point of contact..
(c)Prove, by calculation,
that the point
P(3,2,5) les
the circle.
tside
(d)Calculate the length
of the tangent drawn to the circle from P.
Solution
(a)
.
centre=(}, })
radius= }({})2 + (}} )2
10
Now if touches C, then distance from centre to must be equal to the radius,
Distance-
({})+3().
=radius touches c
(Ans.) then
(b)Since touch
(1−3y)2+y −3{1~3y)-3
-3y+2=0.
centre
-PO
contacte(1,0)
(ans.
P: $25
(1.5-5)2 + (1.5–1 5.25
1.8 but radius r.√10
PQ > r
=1.58
.P(5,2.5) lies outside the circle. (Ans.)
日二廿月十年三八九一曆公年二十七國民華中教僑華
(d)PN=length of tangent
=0.806
Exercise 3
Find the equation of the circle which passes through the points A(5,-3) and B(0,0), and whose centre lies on the line 2x-3v−6=0},
Given that P(4 and the line, }:4y-3x-2=0
1 is joined to any point: )) on Z and Po is produced beyond to so that Po:PR=" 1.5. Find the equation of the locus of R as
U moves.
The sides AB, BC, CA of a triangle ABC, lie along the line 2x+3y=0, y-2x=0 and
Find the co-ordinates of the orthocentre.
rial Lenge Fran
? ༦༥ • ༣༤
anted Franges, and
Germany neked down food But thred a' din Fomatic' ale fejuruan Tilthe Bosnian melaiset 1MD8-99 and the Bm (kon Vers of 191-17, Jusiria used an
sixy palidy in the
Da
Shayajust. Serbia,
stood helt rind, skrbian, but formány supported Austrfir. on both orcasions, Austria succeeded in silencing Akebia um hrssin,
None of these crises Led bola Mer thetween two great powers, but their Icornfuloffrets on the relations between the #roat phwere pust nut he
thing, Tranço- relations.
For one.
4x+5y-7-0 respectively, under
exten
Find the equation the normal to the
2: parabola x=4ay at the point A(2a, a) on it. If this normal cuts the parabola again in 3, find the co-ordinates of B.' Find the angle subtended at the origin, by AÐ.
5. Given that the line
y-t=m(x-s) and
222. the circle. ex +Ꭹ. Show that
212.2
( s2-r2)m
)m-2stm+ t
if touches é.
Find the values of so that the line
y-4-m(x-7)
touches the circle
22
xy 40,
and find the equations of the tangents from (7,4) to the circle.
歷史 (F)
although the bad
relata dus
1871 and "arted since
the 1900s. We
say that European history from 1871 to 1945
can
ww frently shaped by the hostility between Germany and France, which contributed to the out- break of botji the First and-Second World Wars.
How did the Bosnian. Crisis and the Balkan Mars affect the policies
of Serbia
Serbía did not
Vin 1914.
yield to Austria's ultimatum “after the Sarajevo -assassination completely, and Russia latør decided on a
forceful “policy"," mobilizatim against both fermany and Austria, All this could be explained by the setback that Serbia and Russia suffered in the Bosnian Crisis and the Balkan. Ware By 1914, the two countries were determ. mined not to show t
明德出版社胡應亮 提供資料 weakness in any crisis
PHILIP YI VOD
MILI & DALE PRESS. I TO
In the previous twó
issues, you learnt about the major international crises that nearly Ted to a world war from about 1900 to 1915, and then you learnt about that international crisis that really led to the Firs Forli kar in the sumei
of 1914. Revise the facts and ideas again.
with them first.
Then read the following questión sand decide for
question. It is not to look at the nndel answer provided bet The question. Think firet, The - qresidomi ILOT AN, DASy one" toʻ answer, so don't feel. upset if you have no
deas in punt. As pointed ont, in the first issue of this column training of thig Wind, is very important, but have to. Tedên how to selcer rolowany fiets and for inelusään By
ip
ional
ku. Eurense 1-1900_. 1914, #bere were a number.
Rifat Mum
Malmond. Manoscan Crisos
and the Balkan Wars of 1992-17. In the
two wècan grises,
that involved Germany.
and Austrias
Germany tuo was:
determined to use à
strong policy by 19.14.
The reason
had suffere that stre
a diplomatic defeat in the two Moroccan Crises. Cona sequently, she decided fo assert Germany's power in any future crisis. This helped explain Gérmany's decision to make war on both France and Russia in 19thy a step that Turned the Foca) Sarajevo crisis into a major war between the great powers Indeed, throughout The crises in 1900–1914, Germany felt, klinto Defining France" and Pied were acting
against her Together: The fear of being enrirrled by enemies on all sides nude fiermany decide on a war policy. in 1915. This also explained the support that many grave Austria in the Bosnian Crisis of 1908, the Pakan wars of .1912–13, and most
importantly, in the summer of 1912 as it happened, the "blank cliegue" or 1915 made Austria nore, confident to start.a war against
mallu conelusion, the crises in 1909-1914.
increased tension and. distrust between Germany and. Austria ou the one hand and Britain, France and Bussia on the otdier. To any ways, these crises explained the steps taken by the se great powers, in the summer of 1914. It was these steps that Led my to the outbreak of the First Vorldar.