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Gekata [30.6K]
3 years ago
5

What is an example of a scarce factor of production?

Business
2 answers:
Maru [420]3 years ago
7 0

Answer:

An example of scarce source of production is "Labour"

Explanation:

An example of scarce source of production is "Labour"

Labour

This refers to the work done by those who contribute to the production  processes.  Many people not in paid employment also provide things that are needed by  people. For example, a woman might not hold a job in order to raise her children  and look after the home.  Some people are more productive in the work place than others because they  have different levels of education, training and experience. They are said to  possess a greater amount of human capital.  This implies that this factor can be enhanced in an economy through educational  initiatives and investment in training.

Softa [21]3 years ago
5 0

Answer and explanation:

The factors of production are land, labor, capital, and entrepreneurship. The most immediate scarce factor of production is land. Land represents all natural resources that are used to produce goods and services. However, those resources are limited -e.g. <em>water, wood, oil</em>- which implies individuals must find a way to rationalize its use while fulfilling their needs.

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Yvonne works in the distribution center for publix supermarket, creating and placing price and identification labels on merchand
rewona [7]

Yvonne’s job involves of ticketing and marking. This is where products are being labeled with identification or that price tags were being assigned to each products for consumers to have the knowledge about the product in which Yvonne’s job is involved to.

5 0
3 years ago
etermine the degree of operating leverage for each approach at current sales levels. (Round answers to 2 decimal places, e.g. 2.
viktelen [127]

Answer: $1,376,000.

Explanation:

So, we are given the following data or parameters or information which is going to assist us in solving this question effectively;

(1). The current approach and automated approach for Contribution Margin Ratio is 25 % and 50 % respectively.

(2). The current approach and automated approach for Break-even point in Sales Dollar is $ 1,248,000 and $ 1,312,000 respectively.

(3). The current approach and automated approach for Degree of Operating Leverage is 4.18 and 5 respectively.

(4). The current and automated approach for Decline in net income for a 10 % decline in sales is 41.8 % and 50 %.

(5). The current and automated approach for level of Sales where net income will be same under both options is $ 1,376,000 and $ 1,376,000 Respectively.

(6). The current approach and automated approach for Margin of Safety Ratio is 24% and 20% respectively.

Note that;

(1). BP = TFC / CMR

Where BP= Break-even point in sales dollar, TFC = Total Fixed Cost and CMR= Contribution Margin Ratio.

(2). MSR = ( ASD - BSD) / ASD × 100.

Where MSR= Margin of Safety Ratio,ASD=Actual Sales dollars, BSD= Break-even Sales dollars , and ASD = Actual Sales dollars.

(3). CMR = CM ÷ Sales × 100.

CMR = Contribution margin ratio, CM =Contribution Margin.

(4). DOL = CM ÷ NI.

Where DOL = Degree of Operating Leverage, CM = Contribution Margin and NI = Net Income.

Decline in net income for a 10 % decline in sales = OL x 10.

Where OL => Operating Leverage.

We then say that V = level of sales.

=> V x 25 % - 312,000 = V x 50 % - 656,000.

=> 0.25 V = 344,000.

V = $ 1,376,000.

4 0
2 years ago
When a closed economy is in equilibrium, we know with certainty that
faust18 [17]

Answer:

inward shift in the supply curve.

Explanation:

= I = S + (T-G). shift in the supply curve.

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2 years ago
Prextos Corp., after incurring losses, decides to move its manufacturing unit to a foreign location where it would get labor at
Darya [45]

Answer:

Offshoring

Explanation:

offshoring is the  process of  moving an aspect of a business process overseas with the intention of  reducing cost.

A firm can move its manufacturing process from its own parent country to another country (usually where the  labour rate and cost of raw materials is cheap compared to what it obtainable in its home country) in other to  reduce  its cost of production thereby increasing its added value.

From the above explanation, we can conclude that Prextos is planning to employ  Offshoring to cut down losses.

7 0
3 years ago
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