Page 312 - Encyclopedia of Business and Finance

eobf_F 7/5/06 3:02 PM Page 289

Factors of Production

duces an image. Toner comes in cartridges and is available SEE ALSO Office Technology
in both color and black and white.

BIBLIOGRAPHY
SCANNERS Brain, Marshall (n.d.). How fax machines work. Retrieved
November 3, 2005, from Howstuffworks Web site:
Scanners are electronic devices that can automatically read http://electronics.howstuffworks.com/fax-machine.htm
but not distinguish in any way material being scanned.
This process is known as optical character recognition. Digital camera. (n.d.) Retrieved November 3, 2005, from
Answers.com Web site: http://www.answers.com/Digital
From there a scanner uses software to convert the image Camera
and/or words into a pattern of dots known as a bitmap.
Harris, Tom (n.d.). How laser printers work. Retrieved Novem-
The quality of the scanned material depends on the num- ber 3, 2005, from Howstuffworks Web site:
ber of dots per inch and the depth of each dot (known as http://computer.howstuffworks.com/laser-printer.htm
a pixel). Scanners come in several sizes depending on the How does a bubble jet printer work? (n.d.). Retrieved November
amount of material to be scanned. One of the most com- 3, 2005, from Howstuffworks Web site:
mon is the flatbed scanner. http://electronics.howstuffworks.com/question163.htm
Scanners have a wide variety of applications including Meeker-O’Connell, Ann (n.d.). How photocopiers work.
copying photographs and medical records. The files can Retrieved November 3, 2005, from Howstuffworks Web site:
then be edited and formatted and then sent electronically. http://electronics.howstuffworks.com/photocopier.htm
Major considerations when selecting a scanner should Tyson, Jeff (n.d.). How inkjet printers work. Retrieved Novem-
include ease of use as well as image and quality resolution. ber 3, 2005, from Howstuffworks Web site:
http://computer.howstuffworks.com/inkjet-printer.htm
Tyson, Jeff (n.d.). How scanners work. Retrieved November 3,
DIGITAL CAMERAS 2005, from Howstuffworks Web site:
Of all the reprographic devices invented in the late twen- http://computer.howstuffworks.com/scanner.htm
tieth century, the digital camera, because of its construc- Wilson, Tracy V., Nice, K., and Gurevich, G. (n.d.) How digital
cameras work. Retrieved November 3, 2005, from Howstuff-
tion, has become one of the fastest-growing methods of
works Web site: http://electronics.howstuffworks.com
reproducing images and data. Among the digital camera’s
/digital-camera.htm
many advantages is the capability of seeing instantly what
the picture looks like, thus allowing the user to delete or
keep the picture for printing. It is also possible to print Dorothy A. Maxwell
one picture or several pictures, depending on preference.
Because there is no film, digital cameras can be reused eas-
ily. With proper computer equipment, digital camera
chips can be inserted into the computer and pictures can FACTORS OF
be printed immediately. PRODUCTION
Digital cameras operate with specific types of
Land, labor, capital, and entrepreneurship: These are four
rechargeable batteries. Keeping the batteries charged is
generally recognized factors of production. Of course, in a
important to remember when using a digital camera. Dig-
literal sense anything contributing to the productive
ital cameras have no film but operate using a sensor chip
process is a factor of production. However, economists
and flash memory. Chip size affects the resolution of the
seek to classify all inputs into a few broad categories, so
picture and the hues and intensities of colors. Digital cam-
standard usage refers to the categories themselves as fac-
eras come in a wide variety of configurations and prices.
tors. Before the twentieth century, only three factors mak-
When shopping for a digital camera, consumers should
ing up the classical triad were recognized: land, labor, and
carefully consider both the resolution quality, which is capital. Entrepreneurship is a fairly recent addition.
very important in guaranteeing a high-quality picture,
and the amount of memory. The factor concept is used to construct models illus-
trating general features of the economic process without
getting caught up in inessential details. These include
SUMMARY models purporting to explain growth, value, choice of
The history of facsimile reproduction is rich with research production method, income distribution, and social
that intertwines with the many diversified methods of classes. A major conceptual application is in the theory of
reproduction today. While electronics are used in new and production functions. One intuitive basis for the classifi-
creative ways daily in reproducing material, the need for cation of the factors of production is the manner of pay-
high-quality production of the printed word continues to ment for their services: rent for land, wages for labor,
be of the utmost importance. interest for capital, and profit for entrepreneurship.

ENCYCLOPEDIA OF BUSINESS AND FINANCE, SECOND EDITION 289