Answer:
employee empowerment
Explanation:
Employee empowerment refers to the authority given to the employees to take a certain decision on behalf of the organization. The employees are offered specific tasks in which they are assigned to initiate and take certain decisions. Such form of initiatives helps the employees to solve the problems and issues with responsibility. Also, this helps in the increase in productivity as the employees complete the given tasks with commitment and satisfaction altogether.
Answer:
Greater; Open; Greater; Closed
Explanation:
Aggregate demand of economy refers to the total demand for goods and services in an economy at particular period of time.
A closed economy refers to one that has no imports or exports; in order words it is closed from foreign trade with other economies. Thus, fiscal policy would have a greater effect in this economy.
Open economy is the opposite of a closed economy; it allows foreign trade and the aggregate demand of the economy is better influenced by the monetary policy.
Answer:
Option (b) is correct.
Explanation:
According to the law of comparative advantage, a person or a country has a comparative advantage in producing a commodity if the opportunity cost of producing that good as compared to the other commodity is lower than the other country.
For example:
There are two countries; Country A and Country B. There are two goods to be produced; Computer and bottles.
Suppose the opportunity cost of producing a computer in Country A is 4 bottles and the opportunity cost of producing a computer in Country B is 6 bottles.
Therefore, the Country A has a comparative advantage in producing computers because of the lower opportunity cost of producing it.
Answer:
Number of units it can sell and the number of customers it can serve
Explanation:
The ultimate market constraint (limit) on the amount of pricing power that can be exercised by a monopoly firm is the <u>number of units it can sell and the number of customers it can serve.</u>
<u>Generally</u>.
The price-setting ability of a monopolist faces two kinds of constraints:
1. Number of Units: The monopolist's price setting ability is limited by capacity as cannot sell more than a given quantity of its products
2. Number of Customers: The monopolist is additionally unable to serve more than a given number of consumers.
These 2 factors constrains the pricing power of the monopolist
