First Sentence:
Production, in the economic sense of the term, is the transformation of scarce productive inputs (also called production factors, such as skilled and non-skilled labour, land and other natural resources, durable and consumable intermediate goods, services, etc.), into other scarce goods or services that are useful to satisfy human needs.
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Key Phrases - Statistically Improbable Phrases (SIPs):
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fixed forward price, physical commodity markets, proportional storage costs, commodity market participants, organised futures markets, commodity derivative markets, ultimate counterparty, fixed hedge, physical traders, commodity trading companies, international commodity trading, international commodity markets, immaterial services, put swaption, current spot price, physical markets, gold futures contract, sugar contract, soya bean meal, organised markets, energy commodities, uncovered positions, physical trading, reference commodity, physical contracts
Key Phrases - Capitalized Phrases (CAPs):
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New York, Louis Dreyfus, International Chamber of Commerce, Johnson Matthey, Journal of Finance, Journal of Futures Markets, Latin America, South Africa, Journal of Financial Economics, Kuala Lumpur, Middle West, Broken Hill Proprietary, Chicago Mercantile Exchange, Derris Mining, Ellis Horwood, Energy Conservation Management, European Union, Geological Survey, Harwood Academic Publishers, International Commodity Trading Table, London Metal Exchange, Modern Applied Energy Conservation, New Directions, North America, Raw Materials Group
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