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2 years ago

Prompt What are the factors of production? Government online class !?!

Business

1 answer:

Feliz [49]2 years ago

4 0

<h2>There are 4 factors of production.</h2>

Explanation:

1. Land factor:

Land is the most important factor to fetching revenues for the country.
Example: Natural resources oil, gas, etc are taken out from the land
The various forms of land starts from agriculture to real-estate

2. Labor as factor

It is the effect taken by individual to create, sale and manage product.
It covers individual right from the workers of the building to the manager of the organization.

3. Capital as factor

It is the indirect component
It is the base for buying raw materials, process and create product

4. Entrepreneurship as a Factor

A secret ingredient of factors of production
Example: Social media

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chubhunter [2.5K]

Answer:

False

Explanation:

The situation above is called the "pitch." This is a process of persuasion whereby people present their ideas to their potential clients or investors. This is done in order to achieve a particular purpose. In the situation above, the ad agency's purpose is to win the potential client's account. In order to become successful in pitching ideas, one has to consider some pointers such as getting to the point fast, using a message map, not using too many slides and the like.

So, this explains the answer.

5 0

2 years ago

Clam gulch is a very popular clamming beach in alaska. on good low tides, clammers can easily gather 60 clams (the state limit).

Ahat [919]

The way economists would probably explain the wastage of this clam resource is by saying that clams are free goods and are therefore subject to the tragedy of the commons effect. The tragedy of the commons effect is a theory in economics, postulated by the Victorian economist William Forster Lloyd.

The tragedy of the commons effect describes a condition within a shared-resource system where each user act freely according to their own self-interest, but their collective actions ends in the depletion or spoilage of that resource, thus having a negative impact on the common good of all users. In this case, commons is taken to refer to the clam resources.

6 0

2 years ago

The following costs were incurred in May: Direct materials $ 44,800 Direct labor $ 29,000 Manufacturing overhead $ 29,300 Sellin

trapecia [35]

Answer:

Conversion cost= $58,300

Explanation:

Giving the following information:

Direct labor $ 29,000

Manufacturing overhead $ 29,300

The conversion costs are the sum of the direct labor and manufacturing overhead:

Conversion cost= direct labor + Manufacturing overhead

Conversion cost= 29,000 + 29,300

Conversion cost= $58,300

5 0

2 years ago

Find the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits an

ikadub [295]

Answer:

$ 226.04

Explanation:

Given:

Paying fund, FV = $ 30000

Interest rate, i = 2%

Time, t = 10 years

Now,

$\textup{PMT}=\textup{FV}[\frac{i}{(1+i)^n-1}]$

since, the payment is made monthly

thus,

n = 10 × 12 = 120 months

i = 2% / 12 = 0.02 / 12

on substituting the values in the above equation, we get

$PMT={30000}[\frac{\frac{0.02}{12}}{(1+{\frac{0.02}{12}})^{120}-1}]$

PMT = $ 226.04

3 0

2 years ago

Tom's Textiles shipped the wrong material to a customer, who refused to accept the order. This is an example of a:-Sales revenue

Angelina_Jolie [31]

Answer:

Sales return

Explanation:

Sales return when a customer is not satisfied with a product, refuses to accept the order and expects to receive back the whole amount of money he paid for it.

Tom's Textiles are at wrong here as they shipped the wrong material to a customer. The customer is allowed not to accept the order and all the money he paid must be reimbursed to him. The company should apologize for the mistake in a pleasant manner, as mistakes happen everyday and can be corrected quickly and efficiently.

3 0

2 years ago