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Capital intensity is the amount of fixed or real capital present in relation to other factors of production, especially labor.At the level of either a production process or the aggregate economy, it may be estimated by the capital to labor ratio, such as from the points along a capital/labor isoquant.
In 1971 Robert Baldwin showed that U.S. imports were 27% more capital-intensive than U.S. exports in the 1962 trade data, using a measure similar to Leontief's. [2] [3]In 1980 Edward Leamer questioned Leontief's original methodology for comparing factor contents of an equal dollar value of imports and exports (i.e. on real exchange rate grounds).
In the model, the traditional agricultural sector is typically characterized by low wages, an abundance of labour, and low productivity through a labour intensive production process. In contrast, the modern manufacturing sector is defined by higher wage rates than the agricultural sector, higher marginal productivity, and a demand for more ...
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A business process modeling of a process with a normal flow with the Business Process Model and Notation. Business process modeling (BPM) is the action of capturing and representing processes of an enterprise (i.e. modeling them), so that the current business processes may be analyzed, applied securely and consistently, improved, and automated.
The Workflow Management Coalition, [6] BPM.com [7] and several other sources [8] use the following definition: Business process management (BPM) is a discipline involving any combination of modeling, automation, execution, control, measurement and optimization of business activity flows, in support of enterprise goals, spanning systems, employees, customers and partners within and beyond the ...
Labor-capital ratio: the relationship between employment and capital stock. [clarification needed] This ratio indicates the relative use of factors in an activity and the extent to which it is labor-intensive compared to capital-intensive. [5] The ratio between employment and value added, which indicates the labor intensity of production.
Leapfrogging is a concept used in many domains of the economics and business fields, and was originally developed in the area of industrial organization and economic growth. The main idea behind the concept of leapfrogging is that small and incremental innovations lead a dominant firm to stay ahead.