Answer: Outsource production to other countries where labour is abundant because labour in those countries are cheaper than in their home countries.in order to reduce the cost of Production and maximize profit, on the other hand a firm may use capital intensive production technique in order to improve efficiency in production and cut cost which will also translate to profit maximization.
Explanation:
Production is the creation of goods and services in order to satisfy human wants.production is not complete untill the goods is finally in the hands of consumers. There are four factors of production which are land, Labour, capital and entrepreneurs.
The Labour is the productive power of the individual. It refers to the actual effort both physical and mental made by human being in production. The Labour intensive industry is a kind of industry where extensive use of human Labour in production is more than the use of machine in production. The capital as one of the factors of production, is the wealth which has been set aside for the production of further wealth. This is because capital plays an important role in increasing production. Capital such as tools,machines,equipment, help in increasing production. The capital intensive industry is therefore, the extensive use of machines in production than human effort in the production of goods. The replacement of machines with human Labour enhances efficiency because of the difficult work which can easily be performed with the use of machine.It also aid in the mass production of goods because machines increases output per man. Therefore we can say that production function can be written as x= f ( K,L) where K is capital and L is labour
The product output depends on the techniques of production used in the production of such goods. Given the firm's capital outlay for inputs, the more efficient the technique used the greater will be the firm's output, and the less efficient the technique used the smaller will be its output. The product output also depends on the quantity and quality of resources used in production, a firm can increase or decrease output by increasing or decreasing the quantity of all resources or inputs used. The firm may choose to outsource production to countries where Labour is abundant such as the south east Asia because the Labour is abundant and cheap. They do this in order to reduce their cost of Production and at the end of the day maximize profit. While the firm which use capital intensive production technique use it in order to improve efficiency of their production and also to cut cost of Production which will also increase profit .
Answer:
the amount that the company have to borrow is $160,000
Explanation:
The computation of the amount that the company have to borrow is given below:
= Minimum cash balance at end of the month - (beginning cahs balance + cash receipts - cash disbursement)
= $400000 - $(480000+304000-544000)
= $160,000
hence, the amount that the company have to borrow is $160,000
Answer:
$300
Explanation:
Data provided as per the question
Increase in volume = $400
Wage rate = $100
The computation of marginal revenue is shown below:-
Marginal revenue = Increase in volume - Wage rate
= $400 - $100
= $300
Therefore for computing the marginal revenue we simply deduct wage rate from increase in volume. So, the marginal revenue is $300.
Answer:
D. a $10 billion increase in government spending and a $5 billion decrease in taxes
Explanation:
Keynesian economy is a macroeconomic theory based on the views of the 20th century British economist John Maynard Keynes. The Keynes economy advocates a mixed economy in which the private sector is dominant but the state and public sector play a big role. According to the Keynesian economy, decisions made by the private sector sometimes cause inefficient macroeconomic results. For this reason, the state should play an active role and stabilize the business cycle. For example, monetary policies through the central bank and fiscal policies through the government should be implemented.
According to Keynesian theory, the sum of some micro-economic behaviors exhibited by all individuals and businesses results in inefficiency and the economy operates at a level below its potential output and growth. When the total demand for products is insufficient, the economy goes into a crisis and unnecessary unemployment occurs due to the defensive behavior of the manufacturers. In such cases, the government may follow some policies to increase aggregate demand and consequently speed up economic activities and reduce unemployment. Most Keynesian people propose policies to stabilize the business cycle. For example, when the unemployment level rises too high, the state may follow a growth-oriented monetary policy.
Keynes considered the revival of the economy with low interest rates or taxes and increase in state investments or government spending as a solution to the Great Depression. It increases investment income and consequently consumption by the state, as a result of which more production and investment are provided, and as a result, consumption increases again. The first economic stimulus investment triggers a sequence of events and provides a much more stringent economic efficiency than the subsequent investment. Some Keynesian economists have particularly emphasized the importance Keynes gives to international coordination, the necessity of international economic institutions, and how economic forces can lead to war or peace.
The final report should include an assessment of the effectiveness of the project team, not only in terms of actual performance on the project, but also with regard to team building and staffing policies.
The continual process of discovering, choosing, assessing, and establishing a working rapport with present or potential employees is referred to as staffing. Finding qualified applicants to fill the various positions inside the firm is the major purpose of staffing.
Staffing is the process of finding, vetting, and hiring new employees inside a company or organization to fill unfilled positions. A staffing department may also be responsible for handling other aspects of employment, such as orientation, training, retention, and termination.
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