The Economics of Industry |
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Page 22
... dose , or as we may say the Return due to each Dose . Suppose , for instance , that by expending in one way or another four doses of £ 1 each , on an acre of land he can raise from it 20 bushels of wheat , which is at the rate of five ...
... dose , or as we may say the Return due to each Dose . Suppose , for instance , that by expending in one way or another four doses of £ 1 each , on an acre of land he can raise from it 20 bushels of wheat , which is at the rate of five ...
Page 23
... doses , may be illustrated by figures . P ( 1 ) P O ABCDE X ( 2 ) Let the line Ox be divided into equal parts , the divisions representing equal doses of capital , and let them be called OA , AB , BC , etc. , each successive dose gives ...
... doses , may be illustrated by figures . P ( 1 ) P O ABCDE X ( 2 ) Let the line Ox be divided into equal parts , the divisions representing equal doses of capital , and let them be called OA , AB , BC , etc. , each successive dose gives ...
Page 83
... dose multiplied by the number of doses he applies1 . 1 In Book I. Chap . iv . § 3 it was shewn that if the doses of capital which a farmer applies to a given piece of land are measured along the line Ox , the returns due to the several ...
... dose multiplied by the number of doses he applies1 . 1 In Book I. Chap . iv . § 3 it was shewn that if the doses of capital which a farmer applies to a given piece of land are measured along the line Ox , the returns due to the several ...
Page 84
... doses of capital that are re- quired to remunerate the farmer . And those portions which lie between RQ and PQ will be surplus portions which the landlord can claim as rent . If now we suppose , as we did before , that these vertical ...
... doses of capital that are re- quired to remunerate the farmer . And those portions which lie between RQ and PQ will be surplus portions which the landlord can claim as rent . If now we suppose , as we did before , that these vertical ...
Page 85
... a country consists of three qualities of land , yielding at an equal expense 60 , 80 , and 100 bushels ; and he then shews that an improvement which increased the return to each dose of increase of rents . ] [ S 5. It has RENT . 85.
... a country consists of three qualities of land , yielding at an equal expense 60 , 80 , and 100 bushels ; and he then shews that an improvement which increased the return to each dose of increase of rents . ] [ S 5. It has RENT . 85.
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Common terms and phrases
abstinence Adam Smith advantages agricultural amount of capital average business power capital employed carpenters causes cent Circulating capital classes coal commodity corn Cost of production Crown 8vo cultivation demand depends determined Diminishing Return division of labour doses Earnings of Management economic Edition efficiency employers employment England equal Expenses of production factories fall farm farmer fcap Firstly Fixed capital greater growth hand higher income increase Indoor relief industry instance invested kind land Law of Demand Law of Diminishing Law of Normal less machine machinery manufacture natural Normal Earnings Normal rate Normal value obtain Outdoor relief outlay population purchasing power railways raise rapidly rate of interest rate of profits regard remunerate rent rise saving sell shew skilled labour social supply of capital Task-wages tend theory things trade unions unskilled labour Wages-and-profits Fund wealth workmen
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