The Importance of Production
Production is a fundamental aspect of economics that involves using scarce resources to create new output.
Efficient economies maximize output by minimizing waste and effectively utilizing scarce resources, ultimately determining a country's living standards.
30
440 reads
CURATED FROM
IDEAS CURATED BY
A learner | Writer of Melva's Note on Substack | High curiosity about psychology and human development.
Economics in a nutshell.
“
Similar ideas to The Importance of Production
1.3 Innovation's Hype Cycle, And Increasing Efficiency
- Amara's law states that people tend to overestimate the impact of new technology in the short run and underestimate it in the long run. Gene editing, GPS and AI are some examples where Amara's hype cycle is observed. It could also be playing a role in the story of crypto.
The Power of Force Multipliers and Automation
Thinking in terms of force multipliers allows for increased productivity and output without increasing overhead or time. Before hiring new staff members, consider implementing a system to help the current team accomplish more in less time.
Automation: Automation is the proc...
A Good 24-hour Hackathon
- Centers on the customer process or journey and supports a clear business target.
- Involves employees from all relevant areas to find different ways of working a problem.
- Challenge participants to reimagine an existing method to try to find the most effici...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates