Production functionIn economics, a production function gives the technological relation between quantities of physical inputs and quantities of output of goods. 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 of income to those factors, while abstracting away from the technological problems of achieving technical efficiency, as an engineer or professional manager might understand it.
Production (economics)Production is the process of combining various inputs, both material (such as metal, wood, glass, or plastics) and immaterial (such as plans, or knowledge) in order to create output. Ideally this output will be a good or service which has value and contributes to the utility of individuals. The area of economics that focuses on production is called production theory, and it is closely related to the consumption (or consumer) theory of economics. The production process and output directly result from productively utilising the original inputs (or factors of production).
Optical discAn optical disc is a flat, usually disc-shaped object that stores information in the form of physical variations on its surface that can be read with the aid of a beam of light. Optical discs can be reflective, where the light source and detector are on the same side of the disc, or transmissive, where light shines through the disc to the be detected on the other side. Optical discs can store analog information (e.g. Laserdisc), digital information (e.g. DVD), or store both on the same disc (e.g. CD Video).
GrapheneGraphene (ˈgræfiːn) is an allotrope of carbon consisting of a single layer of atoms arranged in a hexagonal lattice nanostructure. The name is derived from "graphite" and the suffix -ene, reflecting the fact that the graphite allotrope of carbon contains numerous double bonds. Each atom in a graphene sheet is connected to its three nearest neighbors by σ-bonds and a delocalised π-bond, which contributes to a valence band that extends over the whole sheet.
Density functional theoryDensity-functional theory (DFT) is a computational quantum mechanical modelling method used in physics, chemistry and materials science to investigate the electronic structure (or nuclear structure) (principally the ground state) of many-body systems, in particular atoms, molecules, and the condensed phases. Using this theory, the properties of a many-electron system can be determined by using functionals, i.e. functions of another function. In the case of DFT, these are functionals of the spatially dependent electron density.
Production–possibility frontierIn 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 goods that can be produced using all factors of production, where the given resources are fully and efficiently utilized per unit time. A PPF illustrates several economic concepts, such as allocative efficiency, economies of scale, opportunity cost (or marginal rate of transformation), productive efficiency, and scarcity of resources (the fundamental economic problem that all societies face).
Semiconductor device fabricationSemiconductor device fabrication is the process used to manufacture semiconductor devices, typically integrated circuits (ICs) such as computer processors, microcontrollers, and memory chips (such as NAND flash and DRAM) that are present in everyday electrical and electronic devices. It is a multiple-step photolithographic and physio-chemical process (with steps such as thermal oxidation, thin-film deposition, ion-implantation, etching) during which electronic circuits are gradually created on a wafer, typically made of pure single-crystal semiconducting material.
Optical storageOptical storage refers to a class of data storage systems that use light to read or write data to an underlying optical media. Although a number of optical formats have been used over time, the most common examples are optical disks like the compact disc (CD) and DVD. Reading and writing methods have also varied over time, but most modern systems use lasers as the light source and use it both for reading and writing to the discs. Britannica notes that it "uses low-power laser beams to record and retrieve digital (binary) data.
Potential applications of graphenePotential graphene applications include lightweight, thin, and flexible electric/photonics circuits, solar cells, and various medical, chemical and industrial processes enhanced or enabled by the use of new graphene materials. In 2008, graphene produced by exfoliation was one of the most expensive materials on Earth, with a sample the area of a cross section of a human hair costing more than 1,000asofApril2008(about100,000,000/cm2). Since then, exfoliation procedures have been scaled up, and now companies sell graphene in large quantities. Economies of scaleIn microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, and are typically measured by the amount of output produced per unit of time. A decrease in cost per unit of output enables an increase in scale. At the basis of economies of scale, there may be technical, statistical, organizational or related factors to the degree of market control. This is just a partial description of the concept.
