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3 years ago

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

1 answer:

5 0

The four main factors of production are land, or the physical space and natural resources, labor, or the workers, capital, or the money and equipment, and entrepreneurship, or the ideas and drive, which are used together to make a successful attempt at selling a product or service according to traditional economic ...

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A written statement of policies and principles that guides the behaviour of all employees is called.

Studentka2010 [4]

A collection of instructions provided in writing by an organization to its management and employees to assist them in acting in a manner consistent with its core values and moral principles.

A code of ethics is a collection of values and guidelines that people and organizations use to guide their decision-making and to discern between right and wrong. They give a general understanding of a company's or organization's ethical standards.

The main focus of HRM ethics is on the employer's moral responsibility to uphold fairness and equality for all employees. HRM ethical topics basic civic, employment, and human rights struggles.

To learn more about code of ethics

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2 years ago

XYZ Company produces a significant daily amount of electronic waste. The company disposes the waste into the ocean despite stric

natima [27]

Answer:

Legal responsibility

Explanation:

Since there have been regulations put in place by the government, it is thereforre a legally binding agreement between XYZ company and any other companies that does same as XYZ company.

The failure of XYZ company to honour the set regulations is a breach in its legal responsibilty alongside its corporate social responsibilty as well and it can be taken up by the government by either charging the XYZ company to court or revoking their operating license.

Cheers.

6 0

3 years ago

You are the manager of a firm that produces goods X and Y. Your rm receives revenues of $40,000 per year from product X and $90,

AnnyKZ [126]

Answer:

price elasticity of demand = % change in quantity / % change in price

-0.75 = % change in quantity / 2%

-1.5 = % change in quantity

lets assume that 1,000 units of X were sold at $40 each, total revenue = $40,000

new total revenue = 985 x $40.80 = $40,188

revenue generated by good X will increase by 0.47%, from $40,000 to $40,188

price elasticity of demand = % change in quantity of Y / % change in price of X

-1.7 = % change quantity of Y / 2%

-3.4% = % change quantity of Y

lets assume that 1,000 units of Y were sold at $90 each, total revenue = $90,000

new total revenue = 966 x $91.80 = $88,678.80

revenue generated by good Y will decrease by -1.47%, from $90,000 to $88,678.80

5 0

4 years ago

A product enhancement is equivalent to

Step2247 [10]

<u>Answer:</u> Upsell

<u>Explanation:</u>

Product enhancement means adding any additional features or functions to the existing products. The product managers keep adding these features to increase the market share of the product sold. It is also a marketing technique used by the companies to prove their products better than the competitors products.

By following product enhancement strategy the company tries to upsell the products. It protects the product from being out of the market and also increases the product's capability. The usability and performance of the product also increases.

8 0

3 years ago

When a firm uses retained profits to invest in more energy efficient equipment, an economist would calculate the _______________

Blababa [14]

Answer:

opportunity cost

Explanation:

When a firm uses retained profits to invest in more energy efficient equipment, an economist would calculate the opportunity cost of investing in physical capital.

6 0

3 years ago

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

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