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Pork Cycle
In economics, the term pork cycle, hog cycle, or cattle cycle describes the phenomenon of cyclical fluctuations of supply and prices in livestock markets. It was first observed in 1925 in pig markets in the US by Mordecai Ezekiel and in Europe in 1927 by the German scholar . Explanations of cycles in livestock markets The cobweb model Nicholas Kaldor proposed a model of fluctuations in agricultural markets called the cobweb model, based on production lags and adaptive expectations. In his model, when prices are high, more investments are made. However, the effect of these investments is delayed due to the breeding time - the production lag. Eventually, the market becomes saturated, leading to a decline in prices. Production is thus decreased and again, this takes time to be noticed, leading to increased demand and again increased prices. The cycle continues to repeat, producing a supply-demand graph resembling a cobweb. The model has also been applied in certain labour sector ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kevin M
Kevin () is the anglicized form of the Irish masculine given name (; mga, Caoimhghín ; sga, Cóemgein ; Latinized as ). It is composed of "dear; noble"; Old Irish and ("birth"; Old Irish ). The variant ''Kevan'' is anglicized from , an Irish diminutive form.''A Dictionary of First Names''. Oxford University Press (2007) s.v. "Kevin". The feminine version of the name is (anglicised as ''Keeva'' or ''Kweeva''). History Saint Kevin (d. 618) founded Glendalough abbey in the Kingdom of Leinster in 6th-century Ireland. Canonized in 1903, he is one of the patron saints of the Archdiocese of Dublin. Caomhán of Inisheer, the patron saint of Inisheer, Aran Islands, is properly anglicized ''Cavan'' or ''Kevan'', but often also referred to as "Kevin". The name was rarely given before the 20th century. In Ireland an early bearer of the anglicised name was Kevin Izod O'Doherty (1823–1905) a Young Irelander and politician; it gained popularity from the Gaelic revival of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oscillation
Oscillation is the repetitive or periodic variation, typically in time, of some measure about a central value (often a point of equilibrium) or between two or more different states. Familiar examples of oscillation include a swinging pendulum and alternating current. Oscillations can be used in physics to approximate complex interactions, such as those between atoms. Oscillations occur not only in mechanical systems but also in dynamic systems in virtually every area of science: for example the beating of the human heart (for circulation), business cycles in economics, predator–prey population cycles in ecology, geothermal geysers in geology, vibration of strings in guitar and other string instruments, periodic firing of nerve cells in the brain, and the periodic swelling of Cepheid variable stars in astronomy. The term ''vibration'' is precisely used to describe a mechanical oscillation. Oscillation, especially rapid oscillation, may be an undesirable phenomenon in proc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kitchin Cycle
Kitchin cycle is a short business cycle of about 40 months discovered in the 1920s by Joseph Kitchin. This cycle is believed to be accounted for by time lags in information movements affecting the decision making of commercial firms. Firms react to the improvement of commercial situation through the increase in output through the full employment of the extant fixed capital assets. As a result, within a certain period of time (ranging between a few months and two years) the market gets ‘flooded’ with commodities whose quantity becomes gradually excessive. The demand declines, prices drop, the produced commodities get accumulated in inventories, which informs entrepreneurs of the necessity to reduce output. However, this process takes some time. It takes some time for the information that supply significantly exceeds demand to get to the business people. As it takes entrepreneurs time to check this information and to make the decision to reduce production, time is also necessa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hog/corn Ratio
A feed ratio is a measure of profitability of animal husbandry, expressed as the ratio between the cost of food and the price of the final product. For example, in pig farming, the hog/corn ratio is the number of bushels of corn equal in value to 100 pounds of live hogs. Put another way, it is the price of hogs, per hundredweight, divided by the price of corn per bushel. Since corn is a major input cost to hog producers, the higher the price of hogs relative to corn, the more profit there is in feeding hogs. In dairy farming, the milk-feed price ratio is a measure of the value of 16% protein ration to one pound of whole milk. As with the hog/corn ratio, this relationship is an indicator of the profitability of milk production. See also * Pork cycle In economics, the term pork cycle, hog cycle, or cattle cycle describes the phenomenon of cyclical fluctuations of supply and prices in livestock markets. It was first observed in 1925 in pig markets in the US by Mordecai Ezek ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Feedback
Feedback occurs when outputs of a system are routed back as inputs as part of a chain of cause-and-effect that forms a circuit or loop. The system can then be said to ''feed back'' into itself. The notion of cause-and-effect has to be handled carefully when applied to feedback systems: History Self-regulating mechanisms have existed since antiquity, and the idea of feedback had started to enter economic theory in Britain by the 18th century, but it was not at that time recognized as a universal abstraction and so did not have a name. The first ever known artificial feedback device was a float valve, for maintaining water at a constant level, invented in 270 BC in Alexandria, Egypt. This device illustrated the principle of feedback: a low water level opens the valve, the rising water then provides feedback into the system, closing the valve when the required level is reached. This then reoccurs in a circular fashion as the water level fluctuates. Centrifugal governors were ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
