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In microeconomics, a production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB) is a graphical representation showing all the possible options of output for two that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time.
In microeconomic theory, productive efficiency (or production efficiency) is a situation in which the economy or an economic system (e.g., bank, hospital, industry, country) operating within the constraints of current industrial technology cannot increase production of one good without sacrificing production of another good. [1]
Energy efficiency was a lower priority when energy was cheap and awareness of its environmental impact was low. In 1975 the average fuel economy of a car in the US was under 15 miles per gallon [ 6 ] Incandescent light bulbs, which were the most common type until the late 20th century, waste 90% of their energy as heat, with only 10% converted ...
A more sophisticated SPC chart may include "control limit" & "spec limit" % lines to indicate whether/what action should be taken. Statistical process control (SPC) or statistical quality control (SQC) is the application of statistical methods to monitor and control the quality of a production process. This helps to ensure that the process ...
The production function is one of the key concepts of mainstream neoclassical theories, used to define marginal product and to distinguish allocative efficiency, a key focus of economics. One important purpose of the production function is to address allocative efficiency in the use of factor inputs in production and the resulting distribution ...
Best Research-Cell Efficiency Chart: Image title: National Renewable Energy Laboratory (NREL) maintains a plot of compiled values of highest confirmed conversion efficiencies for research cells, from 1976 to the present, for a range of photovoltaic technologies. Software used: Adobe Illustrator CC 23.0 (Windows) Conversion program: Adobe PDF ...
It is based on the Harrington Emerson way of thinking regarding labor efficiency. [citation needed] The generic form of OEE allows comparison between manufacturing units in differing industries. It is not however an absolute measure and is best used to identify scope for process performance improvement, and how to get the improvement. [3]
Control charts are graphical plots used in production control to determine whether quality and manufacturing processes are being controlled under stable conditions. (ISO 7870-1) [1] The hourly status is arranged on the graph, and the occurrence of abnormalities is judged based on the presence of data that differs from the conventional trend or deviates from the control limit line.