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.
Marginal cost is the incremental cost incurred for one additional unit.
Marginal benefit is the incremental benefit gained from the one additional unit.
The maximized utility is the concept of getting maximum values from the minimum expenditure.
If you decide to eat one more chip. the change in the total amount gained that comes from this action is the Marginal benefit.
Hence the correct answer is the <u>Marginal benefit</u>
Answer:
Hello There!!
Explanation:
I think the answer is The Foreign Corrupt Practices Act.
hope this helps,have a great day!!
~Pinky~
Answer:
Moral rights
Explanation:
The moral rights approach says that decisions must be consistent with fundamental rights and privileges, for example, freedom, life, health, privacy. These rights are embodied in the United Nations Declaration of Human Rights.
Answer:
The correct answer is D) product differentiation.
Explanation:
Product differentiation is a competitive strategy that aims to allow the consumer to perceive differently the product or service offered by a company, with respect to those of the competition.
Product differentiation can be based mainly on various attributes such as quality, color, size, after-sales service, specialized attention, location, brand recognition or luxury. But any attribute makes perceive a product or service differently is considered product differentiation.
It should be noted that the differentiation also has a subjective element since consumers can perceive that a certain brand is different from another based not on the comparison of objective characteristics but on the idea that they have made of the company and its image.
