A partnership has been defined as "an association of two or more persons who carry on as co-owners of a business for a profit."
A partnership is a legal agreement/arrangement where people, known as partners, work together and are beneficial to one another in terms of business. A fun example of a partnership is Ben & Jerry's ice-cream. Founded by Ben & Jerry they were partners in their company and created a successful business though partnership.
Answer:
CPI and WPI
Explanation: Consumer Price Index measures the percentage change in the price of a basket of goods and services consumed by households. Wholesale Price Index is the price of representative of basket of wholesale goods.
Answer:
Line production system
Scale of production
Development of Factories
Development of Capital Machinery
Development of Capital Goods Industry.
Explanation:
Line production system: This system was adopted in manufacturing companies to divide the tasks between the workers so a product can be manufactured in the fastest way possible
Scale of production: The manufacturing industry develop high levels of production that allow surpluses of production of goods in the economy.
Development of Factories: The manufacturing industry was the first in organize the Plant for production purposes. Therefore, the creation of what is nowadays known as factories was a consequence of this organization.
Development of Capital Machinery: Manufacturers Researched and developed new machines to improve the times of production. With time this technology was used for more industries to achieve fast performances.
Development of Capital Goods Industry: As machines were developed the industry of Capital goods arose and became an important source of technology for companies.
A major factor that makes it more desirable for business organizations to actively manage their supply chains is increasing <u>globalization</u>.
<h3>
What do you mean by Globalization?</h3>
Globalization is the accepted by society that on many occasions we do not stop to think about their consequences.
Globalization is often identified as a dynamic process produced mainly by society, that impact the information revolution, reaching a considerable level of liberalization and democratization in its political culture.
It enhance the growing communication and interdependence between the different countries of the world uniting their markets, social and cultural matters.
In order to manage the supply chain, organization needs to improve production process, make a good relationship with their suppliers and enhance inventory management etc.
From this, the supply chain managers can effectively reduce the future costs that automatically increase the profits of firm.
Learn more about Globalization, refer to the link:
brainly.com/question/15283031
#SPJ4
