All categories

2 years ago

Scarcity of a key resource or input into the production process

Business

1 answer:

vladimir2022 [97]2 years ago

5 0

Scarcity reduces the producer's ability to manufacture a limitless number of goods, thus limiting output.

<h3>What is the production process?</h3>

Producers may have to make the difficult decision of which product to prioritize for manufacture out of a variety of items using limited resources.

Overall, a lack of resources or manufacturing inputs results in a smaller number of goods or services available on the market, which has an impact on customers by forcing them to make difficult purchasing decisions.

Therefore, when something is scarce, more people want it than can be supplied.

Learn more about, scarcity, here:

brainly.com/question/28154985

#SPJ1

You might be interested in

________ bases a portion of an employee's pay on some individual and/or organizational measure of performance. Group of answer c

Readme [11.4K]

Answer:

Variable pay program

Explanation:

Variable pay program is a form of motivational and incentive technique used in organizations today. It is the situation whereby organizations bases bonuses on individual/team or organizational goals. The variable pay refers to the bonus given to employees or workers that has exceeded or met company's expectations and targets. It is based on a measure of performance rather than job time or seniority.

6 0

4 years ago

Read 2 more answers

Sid is a computer programmer who wants to earn more money. How could he accomplish this?

Anarel [89]

I would say, B. because when you familiarize yourself with a lot of different software you become more aware of how to improve on what the public would prefer most.

7 0

4 years ago

Read 2 more answers

An advantage of a sole proprietorship is that

Mandarinka [93]

<span>An advantage of a sole proprietorship is that the owner can make business decisions quickly.</span>

7 0

3 years ago

Todd, an analyst for the U.S. government, has been given the task of assessing the economic performance of Country X in the inte

dybincka [34]

Answer:

BOP statistics.

Explanation:

Balance of payment statistics is used to record all the flow of goods, services, income, and capital from an economy to other economies. Balance of payment is a comparism between economic unit of a country and the same economic unit in other countries.

Todd, an analyst for the U.S. government, has been given the task of assessing the economic performance of Country X in the international marketplace. Todd will use the BOP statistics as a measure of country X's performance against other countries.

7 0

4 years ago

A company that manufactures paving material for driveways and parking lots expects the following demand for its product for the

kap26 [50]

Answer:

A. Capacity Utilization for Labor and Machine

Labor Capacity % Machine Capacity %

Week 1 160 (40*4) 53.3% (160/300) 120 (40*3) 60% (120/200)

Week 2 320 (80*4) 106.7% (320/300) 240 (80*3) 120% (240/200)

Week 3 240 (60*4) 80% (240/300) 180 (60*3) 90% (180/200)

Week 4 280 (70*4) 93.3% (280/300) 210 (70*3) 105% (210/200)

B. There is a problem in weeks 2 and week 4. In week 2, both the labor and machine capacities were over-utilized, while in week 4 only the machine capacity was over-utilized. In other weeks, there were notable under-utilization of labor and machine capacities.

B2. Production materials for the weeks should have been made even (60 tons per month) to smoothen the demand on weeks 2 and 4.

B3. The relevant costs involved in making this decision are direct labor costs.

Explanation:

a) Data and Calculations:

Week number 1 2 3 4

Material(tons) 40 80 60 70

The company’s labor and machine standards and available capacities are as follows:

Labor Machine

Production standard (hours per ton) 4 3

Material production capacity(hours) 300 200

A. Capacity Utilization for Labor and Machine

Labor Capacity % Machine Capacity %

Week 1 160 (40*4) 53.3% (160/300) 120 (40*3) 60% (120/200)

Week 2 320 (80*4) 106.7% (320/300) 240 (80*3) 120% (240/200)

Week 3 240 (60*4) 80% (240/300) 180 (60*3) 90% (180/200)

Week 4 280 (70*4) 93.3% (280/300) 210 (70*3) 105% (210/200)

Total labor hours = material * production standard hour per ton.

Total machine hours = material * production standard hour per ton.

6 0

3 years ago