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EN
A firm is often characterized as an entity that transforms unique factors of production to final production in order to maximize its market value and eventually the profit. Given the technological limitation, a firm allocates its financial resources in the most effective way for the purpose of the lowest costs of bought inputs possible within the maximum goods. The situation in the agriculture is the same. Therefore, the aim of this article is to analyse by the means of simplified microeconomic model the development and the structure of factors of production, namely labour and capital, and their influence on final production of a farm in selected agricultural holdings in the Czech Republic.
EN
Generation-based approach to natural resource economics has been developed in the article. Based on sustainable development definition, generations can be categorized by present and future ones. An ecological classification of the global natural resources has been proposed, which is related to future generations. Economic issues of eco-futuristic classification have also been raised in the article. Classification of ecological values has been proposed and ecological values being incorporated into a form of ecological culture and exploited as a new factor of production have been analyzed. The effect of increasing marginal futuristic utility of ecological values has been revealed at the end of the article.
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