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Licemer1 [7]
3 years ago
9

List and explain the four factors of production ,stating their reward.​

Business
1 answer:
netineya [11]3 years ago
8 0

Answer:

Explanation:

Production in itself is the conversion of inputs to outputs.

Factors of production are the resources that make this conversion of input to outputs possible. These include;

Labour- is the physical and mental effort contributed. It is rewarded by wages or salaries.

Land - includes the soil itself, natural trees,  raw materials like minerals and oil found underneath. Its reward is rent.

Capital - includes machinery, chemicals and equipment (tractors, robots).  Its reward is interest.

Entrepreneurship- is the drive to develop an idea, take risks and use the other three factors of production to produce goods or services. Its reward is profit.

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A car insurance policy has a $500 deductible for comprehensive coverage and a $1000
Alexus [3.1K]
$1500 will be paid by the Insurance policy as the accident has lead to $725 damage to John’a car which will be covered up to $500 (full amount that insurance can pay), leaving him to pay off the rest. As for the liability that is worth $1525 so insurance will pay what it can which is $1000, leaving John to pay off the remaining amount. So the insurance is paying $1500 ($500 comprehensive coverage plus $1000 liability coverage)
7 0
3 years ago
Read 2 more answers
Mintzberg would describe Jobs's role at Apple, NEXT, and Pixar as primarily a(n)_______.
andreev551 [17]

Answer:

The strongest role that Apple focuses on is the leadership role. Mintzberg described leading as motivation, direction, and communication from managers to their employees in an effective manner

Explanation:

Mintzberg published his Ten Management Roles in his book, "Mintzberg on Management: Inside our Strange World of Organizations," in 1990.

The ten roles are:

Figurehead.

Leader.

Liaison.

Monitor.

Disseminator.

Spokesperson.

Entrepreneur.

Disturbance Handler.

Resource Allocator.

Negotiator.

The 10 roles are then divided up into three categories, as follows:

Interpersonal

Informational

Decisional

3 0
3 years ago
The tiny isolationist nations of Lorland and Zhangia are considering opening their borders to trade with each other. Both nation
Svetlanka [38]

Answer:

Lorland

Zhangia

sandals

smoothies

Explanation:

A country should specialise goods for which it has a comparative advantage in its production.

A country should import goods for which it has no comparative advantage in its production.

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.

Lorland

Opportunity cost in the production of one smoothie = 8/2 = 4

Opportunity cost in the production of one sandal = 2/8 = 0.25

Zhangia

Opportunity cost in the production of one smoothie = 5/1 = 5

Opportunity cost in the production of one sandal = 1/5 = 0.2

Zhangia has a comparative advantage inn the production of sandals and should specialise in the production of sandals while lorland has a comparative advantage in the production of smoothies specialise in the production of smoothies

Loriland should import sandals and export smoothies

6 0
3 years ago
Identify every authority cited in the opinion (note that some sources may be cited more than once) and then do the following:
Oliga [24]

Answer:

Primary Authorities :

Statues, regulations, jurisdiction, trial court, cases.

Primary Persuasive Authority :

Constitution, legislation.

Secondary Persuasive Authority :

Law review articles, trial courts.

Explanation:

Primary persuasive authority means law. Following a law is mandatory and statute provides the regulation which are required to be followed or else it will be regarded as crime. Secondary persuasive authority is not law but it leads to the law and helps explain the terms and standards of the law.

6 0
3 years ago
Feiler Corporation has total current assets of $493,000, total current liabilities of $357,000, total stockholders' equity of $1
Citrus2011 [14]

Answer:

The answer is C.

Explanation:

Current ratio shows the liquidity of of a company. This ratio tells us how a company or business is able to meet its short obligation.

This ration is very important to lenders because they use it to know of you will be able to meet the interest payment and principal

The formula for current ratio is:

Current assets/current liabilities

Total current assets is $493,000, Total current liabilities is $357,000

= $493,000/$357,000

=1.38

3 0
4 years ago
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