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  2. Physical capital - Wikipedia

    en.wikipedia.org/wiki/Physical_capital

    Physical capital represents in economics one of the three primary factors of production. Physical capital is the apparatus used to produce a good and services. Physical capital represents the tangible man-made goods that help and support the production. Inventory, cash, equipment or real estate are all examples of physical capital.

  3. Marginal product of capital - Wikipedia

    en.wikipedia.org/wiki/Marginal_product_of_capital

    Thus, the marginal product of capital is the difference between the amount of output produced with K + 1 units of capital and that produced with only K units of capital. [ 2 ] Determining marginal product of capital is essential when a firm is debating on whether or not to invest on the additional unit of capital.

  4. Glossary of economics - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_economics

    Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...

  5. Marginal product of labor - Wikipedia

    en.wikipedia.org/wiki/Marginal_product_of_labor

    Fixed costs are costs that relate to the fixed input, capital, or rK, where r is the rental cost of capital and K is the quantity of capital. Variable costs (VC) are the costs of the variable input, labor, or wL, where w is the wage rate and L is the amount of labor employed. Thus, VC = wL.

  6. Intensive and extensive properties - Wikipedia

    en.wikipedia.org/wiki/Intensive_and_extensive...

    According to International Union of Pure and Applied Chemistry (IUPAC), an intensive property or intensive quantity is one whose magnitude is independent of the size of the system. [3] An intensive property is not necessarily homogeneously distributed in space; it can vary from place to place in a body of matter and radiation.

  7. Circulating capital - Wikipedia

    en.wikipedia.org/wiki/Circulating_capital

    In the following chapter Marx defines fixed capital and circulating capital. [4] In chapter 9 he claims: "We have here not alone quantitative but also qualitative difference." [5] Conventionally, (physical) capital assets held by a business for more than one year are regarded in annual accounting statements as "fixed", the rest as "circulating ...

  8. Quantities, Units and Symbols in Physical Chemistry

    en.wikipedia.org/wiki/Quantities,_Units_and...

    The Green Book is a direct successor of the Manual of Symbols and Terminology for Physicochemical Quantities and Units, originally prepared for publication on behalf of IUPAC's Physical Chemistry Division by M. L. McGlashen in 1969. A full history of the Green Book's various editions is provided in the historical introduction to the third edition.

  9. Process simulation - Wikipedia

    en.wikipedia.org/wiki/Process_simulation

    Process simulation is a model-based representation of chemical, physical, biological, and other technical processes and unit operations in software. Basic prerequisites for the model are chemical and physical properties [ 1 ] of pure components and mixtures, of reactions, and of mathematical models which, in combination, allow the calculation ...