Answer:
correct option is e
first blank contains labor, second blank contain capital and land
Explanation:
The production feature describes the relationship among production inputs and outputs. Assume at least one fixed output-input variable in the short-run output function. Therefore, labor is the variable source in the short-run production model, and remaining of the factor inputs are fixed inputs.
In the statement provided, a restaurant's manufacturing role is a process involves labor (including waiters, cooks, a manager), capital (including table, chairs, counters, and building) and property. If the restaurant owner wants to maximize brief-run production, then he has to use labor as a flexible source, and capital and land as set inputs.
therefore, first blank contains labor, second blank contain capital and land
You are most likely discussing the general business environment in which your company must operate.
<h2>
What is the general environment in business?</h2>
The diversity of external elements that have an impact on an organization's performance and operation is known as the general environment, or macro-environment. These outside factors can decide whether a company encounters market opportunities or failures.
The overall environment can influence how a firm identifies itself, the products it sells, and how it interacts with other businesses and regulatory bodies. When performing market research and strategic analysis, businesses often consider the overall environment.
<h2>
What are the six elements of the business environment?</h2>
Sometimes, economic and legal aspects are combined to form five major components of the business environment. Political, economic, social, technological, legal, and environmental factors are the six components of the business environment.
<h3>
What is the external business environment?</h3>
- Economic, political and legal, demographic, social, competitive, international, and technological sectors make up the external business environment.
- Managers need to be aware of how the environment is changing and how those changes are affecting the company.
learn more about area(s) of the general external business environment:
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Answer:
a) True
Explanation:
Cost leadership strategy strives to focus on reducing per unit cost of production and thus charging lower price of the product as compared to the competitors.
The strategy is followed when the product is identical and cannot be differentiated based on quality or brand name, consumers only focus on products which are priced cheapest.
Answer:
a widely held but fixed and oversimplified image or idea of a particular type of person or thing.