Answer:
Specialization and the division of labor can increase productivity.
Explanation:
Specialization is about an <em>invidivual</em> focusing on very specific tasks that are best suited to them according to their skills and knowledge. This concept can be applied to <em>companies</em> and <em>countries</em>, as they specialize on producing a small amount of products they excel at, for having the raw material, knowledge and/or technology to do so.
The division of labor is about breaking down the production process of a good in <em>different parts</em> performed by <em>different people</em> instead of having all workers performing all the tasks. The idea is to let workers be <em>specialists</em> in a small amout of tasks so that they can be more efficient and overall productivity can be greatly increased. This concept was introduced by the <u>'father of economics'</u> Adam Smith in his book "The Wealth of Nations" released in 1776.
Specialization and division of labor are complementing concepts that bring a company an increase in productivity and helps achieve economies of scale.
Answer:
c.$1,080,000 for A; $648,000 for B
Explanation:
For computing the total direct material purchase first we have to find out the production units which are shown below:
As we know that
Production units = Ending inventory units + sales units - beginning inventory units
= 9,000 units + 75,000 units - 12,000 units
= 72,000 units
Now the total direct material purchase for Material A and Material B is
For Material A
= 72,000 units × 3 lbs × $5 per lb
= $1,080,000
For Material B
= 72,000 units × 0.5 lbs × $18 per lb
= $648,000
Therefore, the third option is correct
Human Resources are like eyes,mouth,legs and etc. they help us everyday and we need them,without them we wouldn’t be anything and some ppl don’t have them but they work without it. Business objectives is like you doing something that requires objectives like pen,paper,laptop something that will help with business.
Answer:
in Texas, the amount of oil and natural gas produced together with the market price determines the amount of tax to be generated.
Answer:
A. the economy is producing at less than its potential output and has some cyclical unemployment.
Explanation:
Increase in government spending will increase domestic income, only if economy is producing at less than its potential output.
Increase in federal government spending raises the level of 'govt expenditure' in Aggregate Demand. This creates 'Excess Demand' (AD > AS). However, if the economy is at full employment level, i.e all the resources are already best efficiently utilised as per their production potential. Then, the economy can't increase its domestic income more than its full employment (full potential) level. So : Increase in government spending in full employment case, wont increase total production/ income/ employment further ; as the economy is already at full employment & can't increase economic activity beyond that.
