1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Stels [109]
3 years ago
7

Distinguish between production efficiency and allocative efficiency. ​_______ efficiency occurs when we produce goods and servic

es at the lowest possible cost. ​_______ efficiency occurs when goods and services are produced at the lowest possible cost and in the quantities that provide the greatest possible benefit.
Business
2 answers:
Troyanec [42]3 years ago
5 0

Answer: Production efficiency, Allocative efficiency

Explanation:

ludmilkaskok [199]3 years ago
5 0

Answer:

<u>PRODUCTION</u> efficiency occurs when we produce goods and services at the lowest possible cost. ​

<u>ALLOCATIVE</u> efficiency occurs when goods and services are produced at the lowest possible cost and in the quantities that provide the greatest possible benefit.

Explanation:

Production efficiency basically refers to an economy producing along its production possibilities frontier (PPF). This means that it cannot produce any more units, since it is using all it available resources.

Allocative efficiency refers to an economy producing along its PPF at a point where it is maximizing the benefits obtained. The production of goods will match the combination that consumers need and prefer the most.

You might be interested in
A complex structure of offices, tasks, and rules organized within a hierarchy of authority is known as a(n) ______.
iogann1982 [59]
Bureaucracy is a formal system of of organization and administration designed to ensure the efficiency and effectiveness. *Bureaucratic Structure*
8 0
3 years ago
A computer software program that is developed for preparing graphs of sales performance (in terms of the number of units sold) o
worty [1.4K]
It is an example of application software. It is a PC program intended to play out a gathering of composed capacities, undertakings, or exercises for the advantage of the client. Cases of an application incorporate a word processor, a spreadsheet, a bookkeeping application, a web program, a media player, an aeronautical pilot training program, a support amusement or a photograph supervisor.
7 0
4 years ago
Jason Mathews purchased 300 shares of the Hodge &amp; Mattox Energy Fund. Each share cost $15.15. Fifteen months later, he decid
jonny [76]

Answer:

A.) $4,545 b) $5,430 c) $885

Explanation:

Given the following :

Number of shares purchased = 300

Cost per share = $15.15

Total initial investment :

Number of shares purchased * cost per share

300 * $15.15 = $4,545

B)

Total amount received when he sold his shares :

Amount at which shares was sold = $18.10 per share

Therefore,

Total amount received :

$18.10 * 300 = $5,430

C.)

Profit made on investment :

Amount received when shares was sold - total initial investment

$5,430 - $4,545

= $885

8 0
3 years ago
Flexible Budgeting At the beginning of the period, the Fabricating Department budgeted direct labor of $9,280 and equipment depr
andriy [413]

Answer:

$11,000

Explanation:

Fabricating Department budgeted direct labor = $9,280

Depreciation remains constant at any level of production.

Budgeted labor rate = Budgeted direct labor ÷ Hours of production

                                  = $9,280 ÷ 640

                                  = $14.5 per hour

Direct labor cost = completed hours of production × Budgeted labor rate

                            = 600 × $14.5

                            = $8,700

Budget for the Fabricating Department at 600 hours of production:

Budgeted cost = Direct labor cost + Equipment depreciation

                         = $8,700 + $2,300

                         = $11,000

4 0
3 years ago
________ are the people involved in or affected by project activities and include the project sponsor, project team, support sta
igor_vitrenko [27]

STAKEHOLDERS are the people involved in or affected by project activities and include the project sponsor, project team, support staff, customers, users, suppliers, and even opponents of the project


3 0
4 years ago
Other questions:
  • Please label the statements as true or false regarding economic booms and busts. With enough careful planning, fiscal and moneta
    10·1 answer
  • When the Federal Reserve buys bonds from or sells bonds to member banks, it is called _____. monetary policy reserve ratio inter
    9·1 answer
  • 8 Points. How many people just say the same answer as the 1st person who answered on a question just to get points? SO often I s
    12·1 answer
  • A process that performs at a 6 sigma level: a. is considered statistically 'perfect' b. has 3.4 defects per million opportunitie
    9·1 answer
  • A company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office bu
    5·1 answer
  • Monetary policy is:
    10·1 answer
  • How much will we end up buying?
    13·1 answer
  • Phelps, Inc. had assets of $87,938, liabilities of $19,174, and 13,190 shares of outstanding common stock at December 31, 2017.
    9·1 answer
  • Problem 5-13 Qualified Retirement Plans Including Section 401(K) Plans (LO 5.4) During 2020, Jill, age 39, participated in a Sec
    15·1 answer
  • A certificate of deposit pays a higher interest rate than a savings account because the money is quizlet
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!