Answer:
c
Explanation:
Resources are means or factors used to produce goods and services that satisfy human wants.
Human wants and that of the society is unlimited but the resources available to satisfy these wants are limited. As a result, economic agents must make decisions based on the availability of resources.
Resources include :
Land are natural resources used to produce goods and services e.g. gold mine
Labor is the effort used by people in the production of goods and services.
Capital includes machinery and man made resources used in production e.g. hammer
An entrepreneur is a person who combines the other factors of production together
Answer:
increase of VAT is bad
Explanation:
In particular, raising VAT will have a negative effect on productivity growth. Increasing its rate reduces the economic incentives to trade and therefore hampers the division of labour and the associated productivity gains from increased specialisation, economies of scale and so on.
Answer : ensure uninterrupted flows of raw materials at the lowest total cost, improve total cost,improve quality of the finished goods produced,and maximize customer satisfaction
Answer:
The correct option is D
Explanation:
When using credit you have to pay interest when paying back the loan which is a measure disadvantage as the interest will be compounding overtime, so thats when the advantage of cash comes in
Answer:
concurrent
Explanation:
Concurrent control is when the work done by labour is monitored as the task is being performed. This is to ensure that the product of labour meets quality standards.
Feedback control involves reviewing information on the performance of workers to determine if performance meets quality standards.
Feedforward controls is also known as preventive control : identifies deviation from quality standards before they occur
