Allocator- Price thus serves the function of allocator. First, it allocates goods and services among those who are willing and able to buy them. (As we noted in Chapter 1, the answer to the economic question “For whom to produce?” depends primarily on prices.) Second, price allocates financial resources (sales revenue) among producers according to how well they satisfy customers’ needs. Third, price helps customers to allocate their own financial resources among various want-satisfying products.
Answer:
Training
Explanation:
Training is a form of teaching. It is a form of providing knowledge and skills and getting accommodated with those skills. These skills and knowledge help an individual to perform tasks with efficiency and competitiveness. Training helps in developing mental, physical, and professional skills in the individual. It helps in upgrading and enhancing mental and physical skills.
There are many different types of advantages for different people. If you own your own small business then you can choose what hours you have to work, and what hours your employees have to work. The downside to that are numerous things, you are accountable for what your employees do and you have to figure out what to do about it. I don't know if this was what you were looking for but there's my answer.
The questions about risk that should someone ask before making economic choices are :
- What problem are most likely to happen ?
- What could go wrong ?
- What problem that could be most damaging ?
Hope this helps
Answer:
The unstated assumptions in the problems given is that the company may require more units of aluminium and steel, which would allow for producing more bicycles.A linear programming model cannot account for this.
Explanation:
Linear programming model: this is an algebraic description of te objectives to be minimized and the constraints to be satisfied by the variables.
