★教僑華 頁三第張三第
日七廿月九年子甲歷夏
WAH KIU YAT
報日僑
is a human factor in production, the
TP. AP, MP
1985
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ECONOMICS (5)
K.K. WONG & L.T. CHAN
MILL & DALE PRESS LTD.
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, the producers require number of inputs in production. For example, for growing
cultivated.
crops,
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 order to satisfy human's 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 way so as to achieve the greatest output and maximize the profit.
Land:
#
Land refers not only to the site where production activities can be carried out, but also the natural resources made available from the nature. Therefore land includes agricultural land industrial site, mineral resources, forests, mountains
grasslands:
geas,
a
and climate, land is often regarded as free gift of nature because it is provided for everyone in the society. Furthermore land is also limited
in supply.
2. Capital:
Capital refers to. those man-made
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 to make consumer goods directed to the hands of consumers.
3. Labour:
Labour refers to all actual effort, mental and physical, skilled and unskilled, applied to the
production of goods
and services and for which payment to labour is called wages. Because labour
provision of labour.
depends upon
population, mobility
of labour and the
social and
psychological aspects
of the workers.
Entrepreneur:
Entrepreneur is a buman 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 production in business decision making. In other words, the entrepreneur may be the industrialists For the managers in the production unit. He or she has to make vi tal 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 loss.
II.The law of diminishing
returns.
Supposing that the -production of a
commodity require two factors of production, land and labour. If successive units of a variable factor (one whose amount can vary) are added to a given. quantity of a fixed factor (one whose amount cannot be altered), the addition of more and more unite 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 alternative outputs of wheat per unit of time.
18
The average product of labour (AP)
then defined as total product (TP) divided by the number of units of labour used. The marginal product of labour (MP) is given
by the change in the TP per unit change in the quantity of labour used. In the table below, land is
measured in acres
labour in man-years.
and total product (TP)
in bushels.
(3) (4) (5) LandLabour TP AP. MP.
1
(1).
L
L
1
0.
0
0
1
1
3 3
3
1:
2
8
5
12
15
3
17
17
16
-1
1
8
13.
-3
පු
According to the diagram, the MP, rises
Li at first, reaches a maximum (before the AP reaches its
maximum) and then. declines. The MPL
MP
8. Labour
i on one acre of "land)"
becomes zero when the TP is maximum and negative when the TP begins to decline, The following position of the MP, a sure. *L illustrate the law of diminishing returns.
The law of. diminishing returns states that if one: factor of production is increased by small, 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 law applies. III.Tne application of
the law of diminish- ing returns:
Land is subject to the law of diminish- ing returns.
Land is a factor which particularly suffered from the law of diminishing returns. If the certain quantity of the factor land 18. given, 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 output per unit of the additional factors would be decreasing.
2. Other factors of
productions are also subject to the law of diminishing returns.
Today, the theory of diminishing returns restricte not only land 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 more possible,
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to look at the model answer provided below the question immediately. Think first. The question is not an easy, so don't feel upset if you have no ideas in mind. As pointed out in the first issue of this column, training of this kind is very important. You have to
learn how to select relevant facts and ideas. for inclusion in an answer, and you have to write an essay with the
facts and ideas",
In what ways did the major international crises from 1900 to 1914 contribute to the out- break of the First, World War?
In Europe in 1900- 1914, there were a number of major international crises, namely, the First Moroccan Crisis of 1905-06, the Bosnian Crisis of 1908-09, the Second Moroccan Crisis of 1911, and the Balkan Wars of 1912-13. In the two Moroccan Crises). Germany tried to challenge France's position in Morocco, although Morocco was
internationally considered a French protectorate. In the end, however, other powers except Austria and Italy supported France, and Germany backed down and suffered a diplomatic defeat. In the Bosnian Crisis of 1908-09 and the Balkan Wars of 1912-13, Austria used an aggressive policy in the Balkans against Serbia. Russia stood behind: Serbia, but Germany supported Austria. On both occasions, Austria succeeded in silencing Serbia and Russia..
-None of these crises - led to a war between two great powers, but their harmful effects on the relations between the great powers must not be under-estimated. For one
thing, Franco-German relations became worse, although the bad relations started since 1871 and not the 1900s. We can say that European history from 1871 to 1945 was greatly shaped by the hostility between Germany and France, which contributed to the out- break of both the First and Second World Wars.
How did the Bosnian
Crisis and the Balkan Wars affect the policies
of Serbia and Russia? In 1914, Serbía did not yield to Austria's ultimatum after the Sarajevo assassination completely, and Russia later decided on forceful policy mobilization against both Germany and Austria. All this could be
explained by the setback that Serbia and Russia suffered in the Bosnian Crisis and the Balkan
a
★IO*#*# Wars. By 1914, the two
HISTORY (5)
VIOLA WONG YUK-YUE
MILE & DALE PRESS LTD.
In the previous two issues, you learnt about the major international crises that nearly Ted to a world war from about 1900
to 1913, and then you learnt about the international crisis that really led to the First World War in the summer
of 1914. Revise the basic facts and ideas again. Familiarize yourselves with them first. Then read the following question and decide for yourself what you could include for such a ̈ question. It is not vise
countries were deter mined not to show weakness in any crisis. that involved Germany and Austria.
Germany too was determined to use a strong policy by 1914. The reason was that she had suffered a diplomatic defeat in the two. Moroccan Crises. Con- sequently, she decided to assert Germany's power in any future crisis. This helped. explain Germany's decision to make war on both France and Russia: in 1914, a step that turned the local Sarajevo crisis into a major war. between the great powers. Indeed, throughout the crises in 1900-1914,
日一廿月十年四八九一曆公年三十七國民華中
Germany felt that
Britain, France and Russia were acting
together against her. The fear of being encircled by enemies on all sides made Germany decide on a war policy in 1914. This also explained the support that Germany gave Austria in the Bosnian Crisis of 1908, the Balkan Wars of 1912-13, and most importantly, in the summer of 1914. As it. happened, the "blank cheque" of 1914 made Austria more confident to start a war against Serbia.
In conclusion, the erises in 1900-1914 increased tension and distrust between Germany and Austria on the one hand and Britain, France and Russia on the other, In many ways, these crises explained the steps taken by these great powers in the summer of 1914. It was these steps that led up
to the outbreak of the First World War.
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"ADDITIONAL MATHEMATICS
(5)
S.F. KO.
MILL & DALE PRESS LTD.
Exercise 3: Co-ordinate
Geometry
Worked Examples:
1. P(s,t) is any point
on the circle.
、22 2
(x−8) ́+y^ma and Qis
a point on the line UP, where 0 is the origin, such that
00
on. Prove that the locus of Q is given by (n+1)(x2
Zanx=0
Solution:
·(0,0)
From the fig., let Q be (h,k).
G+Sn > s_b(1+n)
0+ta
m
_k(1+n)
Since P(s,t) lies on the circle
2 2012 +y wa
(1-8)2
• . (h(1+n) ___)2 (k(1+n),2.
n
2 (1+n)2 2ab(1+n) ̧ ̧2
_k2(1+n)2
(1+1)=(h
(1+n) (n2+k2
2ah(1+2)
1
-0
-2anh 0
the locus of Qis
(14)(x2
)—2a0x-0
(Ans.)
Given that the line, Ax+3y1 and the circle,
c÷x2+y2-31-3y+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) lies outside the circle.
(d)Calculate the length:
of the tangent drawn to the circle from P. Solution:
2+y2-3x-3y+2-0 centre-)
radius-
Now, if touches then distance from centre to must be equal to the radius
Distance-
radius
touches c. (Ans.) (b)since & touch c, then
(1–3y)2+y2-5(1-3y)—3
(c)
-3y+2=0
1-6y+9y2+y2-3+9y-37+2
x=1
point of contacts(1,0)
(Ans.)
E(3,25)
Length of P from the
~PO
(1.5-3)+(1.
-/3.25
-1.8
But radius r
PQ > r
.P(3,2,5) lies outside the circle (Ans)
(d)PN=length of tangent.
2
(PO) -√3.25-2.5 =0.866
Exercise 3
1. Find the équation of
the circle which passes through the points A(5-3) and B(0.6), and whose centre lies on the line 2x-3y~6-0.
2. Given that P() ),
and the line, £ ÷ 4y-3x-2=0;|-· Pis joined to any point Qon and PQ is produced beyond Q to R so that PQ:PR- 1:3. Find the equation of the locus of Ras Q moves.
The sides AB, BC, CA ́of a triangle ABC lie
along the line 2x+3y=0, y-2x=0 4x+57-7=0
and
respectively. Find the co-ordinates of the orthocentre,
4. Find the equation of the normal to the
2.
parabola x skay at the point A(2a,a) on; it. If this normal cuts the parabola again in B, find the co-ordinates of B. Find the angle aubtended at the origin by AB,
5. Given that the line.
y-t-(x-s) and
2 the circle, c:x+y Show that...
22
2.
if touches c. Find the values of m so that the line y-4-x(1-7) touches the
circle xy -64-0, and find the equations of the tangents from (7,4) to the circle.
"Given:
2
2
2
C2 : (x-a)2+ y2 -2
(a)Find the length of
the tangent AP from P(h,k) to C,
at the point of contact A
(b)Rind the length of the
tangent BP from P(h,k) to Co at the point of contact, B.
(c)If AP-4BP, find the
locus of P