Diffusion of innovation exemplifies how and why a piece of information or innovation is accepted and adopted by a particular group within stipulated period (Rogers 13). According to Rossman, every innovation is affected by various forces that act either within the population adopting or outside the population taking the innovation. Since the innovation appears to be the one being affected by external and internal factors, then, innovation is the dependent variable; considering that factors such as the actors within the population, time, and the population itself directly affect the innovation (Rossman 4). The analysis targets the factors that determine ...
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Introduction
Receiving education is a costly choice. There are costs to education in terms of direct monetary payments and an opportunity costs. The choice to go to school means forgoing waged employment. Therefore, there is an opportunity costs of the wages that would have been earned. Therefore, there is a need to compare the returns versus the cost of education to make optimal decisions. Estimating the returns to education for any population segment is useful in making decisions on the optimal schooling level at both a personal as well as societal level. From a policy standpoint, estimating returns to education ...
Production efficiency refers to the production of goods at the lowest possible cost. On the other hand, production inefficiency refers to the production of goods at a higher cost than the existing costs known. Economists view an economy as productive efficient if it can use its minimum or limited resources in the production of the maximum amount of outputs for the given economy. An economy that is production inefficient is one that does not use its given resources to produce the maximum number of units. Graphs as very essential for economists in illustrating such concepts. An example of the ...
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The production line refers to a set of sequential operations launched in a factory whereby the raw materials are passed via the refining process to produce tissue that is suitable to be used in institutions, households, and industries. The article by Ishakawa and Hirasawa (2012) describes how printing and aqueous lotion chemicals can be applied to improve the quality of tissue papers. Furthermore, the article by Abdulmalek and Rajgopal (2007) look deep on the benefits accrued from lean manufacturing and how they can benefit manufacturing companies. The paper will comprehensively address the production line, its ways, and advantages as ...
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