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3 years ago

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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The new whig party consisted mainly of those who disliked Andrew Jackson

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4 years ago

If people have a high degree of _______ one is more likely to want to stay with their current company.

IrinaVladis [17]

If people have a high degree of organizational commitment one is more likely to want to stay with their current company.

Organizational commitment means the connection or the bond that the employees have with their organization or the employer. It all depends upon their psychology that more attachment they have with their employer or the organization more will they want to stay in it.

It defines different variables such as the job performance of the employees, turnover of the company or the employee employer relationship.

A model of commitment was given by Meyer and Allen in which they defined three types of commitment:

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2 years ago

Cruiseline offers nightly dinner cruises departing from several cities on the eastern coast of the United States including Char

nlexa [21]

Answer:

6,750 dinner cruise tickets

Explanation:

The computation of the break even point in units is shown below:

= (Fixed expenses + target profit) ÷ (Contribution margin per unit)

where,

Contribution margin per unit = Selling price per unit - Variable expense per unit

So, the contribution margin per unit is

= $80 - $40

= $40

And, the fixed expenses is $240,000

And, the target operating income is $30,000

So, the target sales in units is

= ($240,000 + $30,000) ÷ ($40)

= 6,750 dinner cruise tickets

4 0

3 years ago

A check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks

aliina [53]

Answer:

A. Forecast for July = 42.

B. Forecast for August = 42.45

C. Because of seasonality in the banking industry.

Explanation:

A. Forecast for July = Forecast for June + Smoothing constant x (Forecasting error)

= 42 + 0.15 (42-42) = 42

B. Forecast for August = Forecast for July + 0.15 (Forecasting error)

= 42 + 0.15 (45-42) = 42.45

C. Because there is a great deal of seasonality in the processing requirements of banking industry, this forecasting method (exponential smoothing) might not be appropriate for this situation.

5 0

3 years ago

Managerial accounting is an activity that helps managers determine costs of products and services, plan future activities, and c

Elenna [48]

Answer:

True.

Explanation:

Managerial accounting involves managers using accounting information to better inform themselves before making business decisions. It involves analysing, interpreting and communicating financial data to managers to aid in achievement of organisation's goals.

Managerial accounting is for internal use in the business. Data is modified to meet specific need of the end-user. For example a manager may want to see sales figures for a quarter compared to business target. This will give an idea if the business is meeting it's objectives.

4 0

4 years ago

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

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