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1 year ago

The practice of transferring portions of production and service activities to lower-cost, often overseas locations is known as?

1 answer:

7 0

The practice of transferring portions of production and service activities to lower-cost, often overseas locations is known as OUTSOURCING.

Outsourcing: Outsourcing is the process of contracting a third party from outside a business to carry out tasks or produce commodities that were previously done internally by the business's own staff and employees. Companies typically engage in outsourcing as a means of reducing costs.

Benefits of Outsourcing:

1) Lower prices (due to economies of scale or lower labor rates)

2) More effectiveness.

3) Fluctuating capacity

4) Heightened attention to strategy and key skills.

5) Access to knowledge or assets.

6) Improved adaptability to evolving commercial and corporate environments.

7) Shortened time to market.

The practice of transferring portions of production and service activities to lower-cost, often overseas locations is known as OUTSOURCING.

To learn more about Outsourcing, visit the following link:

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Focusing provides the ability to secure a competitive edge but also itcarries some risks that will be detrimental to the focused

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Answer:

B - The potential for the preferences and needs of niche members to shift over time toward mainstream provider product attributes.

Explanation:

In the long term, such focused goods and services might be provided by every supplier, hence the Company (focused on one product) might earn less profits and lose its competitive advantage as more players have entered the competition to produce and sell similar products.

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3 years ago

Suppose the nation of Sugarland consists of 50,000 households, 10 of whom are sugar producers. Arguing that the sugar industry i

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Answer:

a) The gross cost per household per year of this policy is $2 per household.

b) The policy's benefit per sugar producer per year is $2,500 per producer.

Explanation:

This tariff policy affects households, that loss consumer surplus, and sugar producers, which have a producer surplus gain.

The loss in consumer surplus due to the tariff will be $100,000 per year.

If there are 50,000 households in Sugarland, the cost per household is:

$Cost \,per\,household=Consumer\,surplus \,loss/Number\,of\,households\\Cost \,per\,household=100,000/50,000= \$ 2/household$

The gross cost per household per year of this policy is $2 per household.

The benefit per sugar produced can be calculated as the total benefit per year (producer surplus) divided by the total amount of sugar producers:

$Benefit \,per\,sugar\,producer=Producer\,surplus\,gain/Producers\\\\Benefit \,per\,sugar\,producer=25,000/10=\$ 2,500/producer$

The policy's benefit per sugar producer per year is $2,500 per producer.

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3 years ago

Brad purchased a company that is not profitable. What are two courses of action he could take to boost profits in the company?

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Answer: Examing demand for the products.

Gauge customer satisfaction.

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3 years ago

n a free-market system, the allocation of benefits and costs is determined primarily by a. Interaction between a private party a

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Answer:

The answer to this question is A. Interaction between a private party and another private party

Explanation:

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A free or capitalist system may be defined as one in which all or most means of production are owned and controlled by private individuals and in which the economic activity of the government is at minimum.

In a capitalist economic system, private individuals play greater role than the government in taking decision about on what to produce, how to produce and the distribution of what is produced.

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