1.

What is ellipse?
In mathematics, an ellipse is a curve in a plane surrounding two focal points such that the sum of the distances to the two focal
points is constant for every point on the curve. As such, it is a generalization of a circle, which is a special type of an ellipse
having both focal points at the same location. The shape of an ellipse (how "elongated" it is) is represented by its eccentricity,
which for an ellipse can be any number from 0 (the limiting case of a circle) to arbitrarily close to but less than 1.
Ellipses are the closed type of conic section: a plane curve resulting from the intersection of a cone by a plane (see figure to the
right). Ellipses have many similarities with the other two forms of conic sections: parabolas and hyperbolas, both of which
are open and unbounded. The cross section of a cylinder is an ellipse, unless the section is parallel to the axis of the cylinder.
Analytically, an ellipse may also be defined as the set of points such that the ratio of the distance of each point on the curve
from a given point (called a focus or focal point) to the distance from that same point on the curve to a given line (called
the directrix) is a constant. This ratio is called the eccentricity of the ellipse.
Ellipses are common in physics, astronomy and engineering. For example, the orbit of each planet in our solar system is
approximately an ellipse with the barycenter of the planetSun pair at one of the focal points. The same is true for moons
orbiting planets and all other systems having two astronomical bodies. The shapes of planets and stars are often well described
by ellipsoids. Ellipses also arise as images of a circle under parallel projection and the bounded cases of perspective projection,
which are simply intersections of the projective cone with the plane of projection. It is also the simplest Lissajous figure formed
when the horizontal and vertical motions are sinusoids with the same frequency. A similar effect leads to elliptical polarization of
light in optics.
The name, (lleipsis, "omission"), was given by Apollonius of Perga in his Conics, emphasizing the connection of the
curve with "application of areas".

2.

What standard equation of an ellipse whose center is at (0,0) ?

What are the different part of ellipse?

An ellipse is a kind of oval. It is the oval formed by the intersection of a plane and a right circular cone-one of the four types
of conic sections. The other three are the circle, the hyperbola, and the parabola. The ellipse is symmetrical along two
lines, called axes. The major axis runs through the longest part of the ellipse and its center, and the minor
axis is perpendicular to the major axis through the ellipse's center.

FACTORS OF PRODUCTION
The factors of production are resources that are the building blocks of the economy; they are what people use to
produce goods and services. Economists divide the factors of production into four categories: land, labor, capital,
and entrepreneurship.
LAND
~ The first factor of production is land, but this includes any natural resource used to produce goods and
services. This includes not just land, but anything that comes from the land. Some common land or natural
resources are water, oil, copper, natural gas, coal, and forests. Land resources are the raw materials in the
production process. These resources can be renewable, such as forests, or nonrenewable such as oil or natural
gas. The income that resource owners earn in return for land resources is called rent.
LABOR
~ The second factor of production is labor. Labor is the effort that people contribute to the production of goods
and services. Labor resources include the work done by the waiter who brings your food at a local restaurant as well
as the engineer who designed the bus that transports you to school. It includes an artist's creation of a painting as
well as the work of the pilot flying the airplane overhead. If you have ever been paid for a job, you have contributed
labor resources to the production of goods or services. The income earned by labor resources is called wages and is
the largest source of income for most people.
CAPITAL
~The third factor of production is capital. Think of capital as the machinery, tools and buildings humans use to
produce goods and services. Some common examples of capital include hammers, forklifts, conveyer belts,
computers, and delivery vans. Capital differs based on the worker and the type of work being done. For example, a
doctor may use a stethoscope and an examination room to provide medical services. Your teacher may use
textbooks, desks, and a whiteboard to produce education services. The income earned by owners of capital
resources is interest.

ENTREPRENEURSHIP
~The fourth factor of production is entrepreneurship. An entrepreneur is a person who combines the other
factors of production - land, labor, and capital - to earn a profit. The most successful entrepreneurs are innovators
who find new ways produce goods and services or who develop new goods and services to bring to market. Without
the entrepreneur combining land, labor, and capital in new ways, many of the innovations we see around us would
not exist. Think of the entrepreneurship of Henry Ford or Bill Gates. Entrepreneurs are a vital engine of economic
growth helping to build some of the largest firms in the world as well as some of the small businesses in your
neighborhood. Entrepreneurs thrive in economies where they have the freedom to start businesses and buy
resources freely. The payment to entrepreneurship is profit.

IMPORTANCE OF PRODUCTION
Successful organizations have well defined and efficient line function and support function. Production comes under
the category of line function which directly affects customer experience and there by future of organization itself.
Aim of production function is to add value to product or service which will create a strong and long lasting customer
relationship or association. And this can be achieved by healthy and productive association between Marketing and
Production people. Marketing function people are frontline representative of the company and provide insights to
real product needs of customers.
An effective planning and control on production parameters to achieve or create value for customers is called
production management.
Production management refers to the application of management principles to the production function in a factory .
in other words , production management involves application of planning , organising , directing and controlling to
the production process .
Th application of the management to the field of the production has been the result of at least three development .
first is the development of factory system of production . until the emergence of the concept of the manufacturing ,
there was no such things as management as we know it .it is true that people operated business of one type or
another , but for the most part , these people were owners of business and did not regard themselves as manager
as well.
The very essence of any business is to cater needs of customer by providing services and goods, and in process
create value for customers and solve their problems. Production and operations management talks about applying
business organization and management concepts in creation of goods and services.

Nature of Production
Production function is the name given to the physical relationship between a firms physical inputs and outputs
depending on a given state of technical knowledge.Like demand, it refers to a period of time. Accordingly, it refers

to a flow of inputs resulting in a flow of outputs over a period of time, leaving prices aside. It shows the maximum
amount of output that can be produced from a given set of inputs in the existing state of technology.The output will
change when the quantity of any input is changed.In real life, a manufacturer wants to know how much of the
various factors or inputs, viz., land (i.e. natural resources), labour and capital will be required to produce a unit or
a given quantity of a commodity during a given period of time.It is necessary for him to know this so that he may
be able not only to assess his requirements of productive services but also roughly to estimate the probable cost. It
will thus indicate the quantities of the productive resources and their possible combinations used for the purposes
of production.
Production is a process of workers combining various material inputs and immaterial inputs (plans, know-how) in order
to make something for consumption (the output). It is the act of creating output, a good or service which has value and
contributes to the utility of individuals.[1]
Economic well-being is created in a production process, meaning all economic activities that aim directly or indirectly to
satisfy human wants and needs. The degree to which the needs are satisfied is often accepted as a measure of
economic well-being. In production there are two features which explain increasing economic well-being. They are
improving quality-price-ratio of goods and services and increasing incomes from growing and more efficient market
production