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leonid [27]
3 years ago
14

How the 4 factors of pruduction fit together land,capital,labor,entreprenurship​

Business
1 answer:
Mrrafil [7]3 years ago
7 0

Explanation:

To understand the basic philosophy behind the four factors of production

Land - Labor - Capital - Entrepreneurship

Lets consider an example:

Someday, just finishing your college, you think of starting a pizza business and you start selling pizza's one day. You might end up making a Pizza brand like Pizza Hut.

Here, in this example, to start your pizza shop, you need a place or area, this is known as Land factor. When you start making pizza, you need someone to work in that shop, (or if you doing it by yourself too) there should be at least some human being doing it, this factor is referred as Labor. To start the pizza shop, you need to buy the equipment, taking a shop on rent, or buying it, renovation of the shop etc. All of these things need, of course, Money, which is referred as Capital here. The idea you going to start this business, the courage to make it, definitely makes you an Entrepreneur, in utilizing all other factors effectively and efficiently. Therefore, this is linkage between these four factors of production, and how they fit together.

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Which of the following statements is incorrect? Employment insurance compensation encourages longer job searches, which may lead
Wittaler [7]

Answer:

Employment insurance compensation increases the opportunity cost of being

unemployed.

Explanation:

The Employment insurance program is the benefit that is provided temporarily to the people who do not have jobs or had lost their jobs of no fault of their own. This program helps the unemployed with financial help temporarily so that they can survive and search for another jobs.

The compensations provided from the employment insurance encourages the people for a longer job search and better match between the employees and the jobs. This financial aid is provided for up to a maximum of 26 months and for 1/3rd of one's latest salary. The demand and supply curve for te labor is shifting constantly.

Thus the incorrect statement is :

Employment insurance compensation increases the opportunity cost of being

unemployed.

6 0
2 years ago
Proponents of rational expectations theory argued that, in the most extreme case, if policymakers are credibly committed to redu
White raven [17]

Answer:

The sacrifice ratio could be as small as 0

Explanation:

The Sacrifice Rate is the loss of output due to the fight against inflation, and can be expressed as how much product is lost to reduce inflation by 1 percentage point. The Sacrifice Rate is a proposition by economist Robert Lucas Jr, who noted that the slowdown in long-term inflation is associated with a reduction in the production of goods and services over a period of time until economic agents adapt to the new reality. pricing and restructuring their expectations of the economy. Therefore, the social cost of fighting inflation is a reduction in GDP and an increase in the unemployment rate.

Because of this, we can conclude that if policymakers are committed to reducing inflation and rational people understand this commitment and quickly reduce their inflation expectations, the sacrifice rate can be as low as 0.

7 0
2 years ago
Applicants for positions at a product distribution site are required to demonstrate the ability to drive a forklift and operate
FromTheMoon [43]

Answer:

The correct answer is b. recruitment and selection .

Explanation:

In the recruitment process, all the information of the employee, his experience, studies, skills, hobbies, family circle, expectations, aspirations, etc. is collected. From this moment on, a series of tests are carried out to determine that what has been previously stated is true, as well as simulating situations to know their behavior in the face of challenges of a different nature. In the particular case, technical skills in forklift driving and machine skills are required, which requires verification and practice processes to determine the suitability of the candidate to successfully execute this position.

3 0
3 years ago
Speechmaking is a form of power and therefore carries with it heavy ________ responsibilities.
mixer [17]
<span>Speechmaking denotes the act of making a speech or speeches. It is a formal speaking, </span><span>
Speechmaking is a form of power and therefore carries with it heavy ethical responsibilities.</span>. Some of the guidelines for ethical speechmaking are: the gals of the speech should sound ethically Sound, the speaker should be f<span>ully prepared for each speech and be honest in what he/she says. 
Very important abusive language must be avoided.

</span>
8 0
3 years ago
Using the Business Process Pragmatism procedure as part of his decision making process, Trevor first should perform a(n) _______
Juliette [100K]

Answer: Inquiry

Explanation:

According to the given question, by using the procedure of the business process for making the various types of decisions and the Trevor should perform the inquiry process for determining the ethical and some legal issues.

 The inquiry is one of the type of approach that is helps in developing the problem solving ability and also the information processing.

It is the process that has ability for resolving various types of problems or ussies by implementing a compliance policies.    

 Therefore, Inquiry is the correct answer.  

5 0
3 years ago
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