markitect-main/examples/infospace-with-history/output/entities/coarser-and-finer-materials.md

Coarser and Finer Materials

Definition

Raw materials of different qualities used in manufacturing processes, where coarser materials are less processed and less valuable, while finer materials are more refined and more valuable. This distinction affects the scale of capital required in production.

Source Chapter

Book I, Chapter 6

Context

Used by Smith to illustrate how profits relate to the value of capital employed. He compares two manufacturing operations using different quality materials to show that profits bear proportion to the extent of capital rather than to the labour of supervision.

Economic Domain

Production

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