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2 years ago

What therm decribes using tesources to produce the maximum amount of goods and services?

Business

1 answer:

Sergio039 [100]2 years ago

7 0

Economic efficiency describes utilizing resources to construct the maximum amount of goods and services.

<h3>What is Economic efficiency?</h3>

In order to serve each person or entity in the best possible manner while minimizing waste and inefficiency, economic efficiency implies an economic state. Any adjustments made to benefit one entity would hurt another in an economically effective economy.

A balance between benefits and costs is a sign of economic efficiency. Example: A farmer wishes to sell a portion of his property. The person who will pay the highest price for the land uses the resource more effectively than the person who will not pay the highest price.

The best use of resources for each individual in that economic situation is referred to as economic efficiency. Although there is no predetermined cutoff point that establishes the viability of an economy, indicators include products that are sold for the least amount of money and labor that produces the most amount of things.

Hence, Economic efficiency describes utilizing resources to construct the maximum amount of goods and services.

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an activity-based costing system blank . multiple select question. uses numerous overhead cost pools is used for external report

fenix001 [56]

An Activity-based system uses numerous overhead cost pools.

<h3>What is activity-based costing?</h3>

Activity based costing is a method of costing that is used in accounting to apportion costs to a good or service produced. It believes that manufacturing requires the use of resources which require activities and so these activities can be given costs.

To give these activities costs, there is a need to use overhead cost pools which is why activity-based systems use several overhead cost pools.

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7 0

2 years ago

Identify a type of market failure. Provide an example of that type of market failure and briefly explain one way that the govern

Rufina [12.5K]

Monopoly power, inefficiency, absent markets, and other factors can all result in market failure. Government is help to reduce the negative effect of that market failure such as implemented taxes and laws. An example of a market failure is music application.

What is market failure?

When we talk about "market failure," we're talking about an economy where there is an inefficient flow of commodities and services on the open market.

Inefficiency, absent markets, insufficient markets, and negative externalities are the main forms of monopoly power. audio player: All listeners hear the song, yet it cannot affect them directly. It is unable to determine whether or not a user has paid.

The government must address market failure issues brought on by additional regulations, taxes, tariffs, subsidies, and trade restrictions.

As a result, monopoly power, inefficiency and missing markets types of market failure. Government implemented taxes and laws. Ex of music app.

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3 0

2 years ago

When looking at developing a particular residential project in a market, the most important factors in figuring out the market a

wlad13 [49]

Answer: employment opportunities and commuting ranges.

Explanation:

When looking at developing a particular residential project in a market, the most important factors in figuring out the market area are employment opportunities and commuting ranges.

One should look at the employment opportunities that such project will bring as this is vital to improving the standard of living of the people in the area. One should also look at the commuting ranges as that is vital too.

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3 years ago

Voice is a principle of good communications One major reason to do an in-depth interview of top management and communicators bef

cluponka [151]

Answer:

Verbal communication in the workplace.

Explanation:

Being voice a part of the skills and knowledge for effective communication, an in-depth interviews of top management and communicators is essential to design an effective employee communication program to gather, convey and receive information and people skills , respecting cultural differences and related legislation. This knowledge and skills will structure the ability to communicate effectively with employees during the day in the workplace.

8 0

4 years ago

Read 2 more answers

A typical major requirement for a business major would be a course in: A.physics. B.music theory. C.economics. D.physical educat

Llana [10]

Economics because it has to deal with money, which is important for a career in business.

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3 years ago