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hoa [83]
3 years ago
7

This 18th century economist coined the term "invisible hand," a metaphor representing the natural forces that drive individuals

to succeed economically, which are the same forces that "invisibly" guide a large economy.this 18th century economist coined the term "invisible hand," a metaphor representing the natural forces that drive individuals to succeed economically, which are the same forces that "invisibly" guide a large economy.
Business
1 answer:
ipn [44]3 years ago
8 0
This 18th-century economist is Adam Smith who is hailed the Father of Economics. In his 1776 book  "An Inquiry Into the Nature and Causes of the Wealth of Nations" Smith argues that society benefits in a free economy in which individuals are motivated by their own self-interest which unintentionally benefits society as a whole. Smith's aim using the term moreover was to attack the mercantilist system which was prevalent during his time. 
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converting quarterly and annual business plans into broad output and labor requirements for the intermediate term is known as:
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Converting quarterly and annual business plans into broad output and labor requirements for the intermediate term is known as aggregate planning.

Aggregate planning is a method for developing a business by arranging a management to the production and demands. In this method, the quarterly and annual business plans are converted into broad output and labor requirements for the intermediate term. This intermediate term may last from 4 to 12 months.

In this period of time the company will hire new employees to make enough output to satisfy the demands and thereby maximizing the profit with a minimum cost.

Aggregate planning ensures the efficiency and production of a company. Usually it is done as a prior activity to obtain a continuous production facility.

Learn more about aggregate planning at brainly.com/question/18803972

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1 year ago
The cost to manufacture one unit of Killian Audio Products' best-selling hearing aid, the Zone, is $67.50. The CFO of the compan
ikadub [295]

Answer:

Economies of scale

Explanation:

Economies of scale refers to reducing total costs per unit by increasing total output. All companies have certain fixed costs, some companies have higher fixed costs than others, but they always exist. When you are producing something, the cost equation is production costs = variable costs per unit + average fixed costs per unit.

Variable costs vary directly with output, while fixed costs do not, e.g. salaries can be fixed, depreciation, rent, interests, etc. The higher the output, the lower the average fixed cost per unit.

Also, sometimes variable costs can also decrease as total output increases. E.g. you can get higher discounts for purchasing larger quantities of materials and supplies.

4 0
3 years ago
If the number of employed workers equals 200 million and the number of unemployed workers equals 20 million, the unemployment ra
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If the number of employed workers equals 200 million and the number of unemployed workers equals 20 million, the unemployment rate equals 9%.

<h3>What is the unemployment rate?</h3>

The unemployment rate is the percentage of the labour force that is unemployed.

The unemployment rate = (number of unemployed people / total labour force) x 100

Total labour force = 200 million + 20 million = 220 million

(20 / 220) x 100 = 9%

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5 0
2 years ago
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