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4 years ago

List and the four factors of production.

Business

2 answers:

topjm [15]4 years ago

5 0

Answer and explanation:

Factors of production is an economic term that defines the general inputs used to produce profitable goods and services. The factors of production are composed of:

Land: land itself, and the ground raw materials.
Labor: workers doing both physical and mental tasks to keep a company going.
Capital: refers to the buildings, machinery, and tools used in the process of manufacturing, including social and intellectual property.
Management: provides creativity and innovation in the use of certain factors which help to build a successful company.

Ierofanga [76]4 years ago

3 0

Answer:

The four factors of production are land, labor, capital and entrepreneurship.

Explanation:

Land is related to natural resoucers available for production.

Labor refers to the human input into the production process.

Capital refers to goods used in the supply of other products.

Entrepreneurship refers to the capacity that people have to create new businesses or companies or having new ideas for improving the current business thus creating a better output for a company.

You might be interested in

Prestige Pegasus is a multinational firm that specializes in the manufacturing of hardware for high-end technical products and s

gregori [183]

Answer:

The correct Choice here is A)

Explanation:

360-degree feedback is a performance evaluation/management technique that provides each worker the opportunity to receive feedback about their performance from senior colleagues and four to eight peers, reporting staff members, co-workers, and customers.

If it is true that the salespeople of the company travel extensively and are expected to work independently without supervision, then it is important to see from the customers eyes what happens when the Sales People go out.

This information will provide information with respect to what the Sales people are doing right and what they aren't getting done.

Armed with these information, Prestige Pergasus can in the next financial year work it's way into even more profits IF following from the feedback they:

reinforce, expand on and reward what is working;
quickly eliminate any loop holes discovered from the feedback by communicating insights to all staff and readjusting performance metrics / system to reward or punish deviation new policies which may have been thought through and stablished in 1 above.

Cheers!

3 0

3 years ago

Last year, Joan bought 50 pounds of hamburger when her household’s income was $40,000. This year, her household income was only

Norma-Jean [14]

Answer:

a. positive, so Joan considers hamburger to be an inferior good.

Explanation:

Income elasticity is a microeconomic concept that aims to measure the sensitivity of demand in the face of income changes. To calculate the Income elasticity , a formula is used that divides the observed percentage change in quantity (Q) by the percentage change in price income (P): Elasticity = ▲ Q / ▲ P

The percentage change in quantity (▲ Q) and the percentage change in price (▲ P) are calculated by the difference in quantity / price in the two periods divided by the quantity / price of the first period.

▲ Q = (60 -50/60) = 0,16

▲ Q = (40.000 - 30.000/40.000) = 0,25

Elasticity = ▲ Q / ▲ P = 0,16/0,25 = 0,64

Therefore, the elasticity is positive.

This good is considered inferior, because according to microeconomic theory, inferior goods are those whose demand increases when consumer income decreases. This is the opposite of the normal good, which has its demand increased when income increases.

8 0

3 years ago

On December 1, Year 1, Jack’s Snow Removal Company received $6,000 of cash in advance from a customer and promised to provide se

AVprozaik [17]

Answer:

Increase Revenue, Decrease Liability

Explanation:

On December 1, They have recognized a liability of $6,000

with the journal entry:

(DR) Cash $6,000

(CR) Unearned Revenue $6,000

Now, on December 31 let's assume that the expiration is an exact

per month division of $2,000 ($6,000 / 3 months)

The adjusting entry would be:

(DR) Unearned Revenue $2,000

(CR) Service Revenue $6,000

The first effect is clear, there is an Increase in Revenue since

the company have rendered the services.

Now, the second effect is that the Liabilities have decreased

because of the debit to "Unearned Revenue" which is a liability.

4 0

3 years ago

Last year Mike bought 100 shares of Dallas Corporation common stock for $35 per share. During the year he received dividends of

jolli1 [7]

Answer:

Rate of return is 13.2%

Explanation:

Rate of Return is the actual return that an investor receives from an investment in asset during a specific period of time. If the investment is made in the stocks, It includes the dividend received and the price change of the stock.

Total return Received = Dividend + Price change = $1.87 + ($37.75 - 35 ) = $4.62

Rate of Return = Total return During the period / Initial Price of the stock

Rate of Return = $4.62 / $35 = 0.132 = 13.2%

3 0

3 years ago

g The low cost of labor in other countries around the globe is a factor that business must consider because they are impacted by

postnew [5]

Answer:

The low cost of labor in other countries around the globe is a factor that business must consider because they are impacted by:

the high cost of domestic labor.

Explanation:

An entity's ability to be globally competitive in the face of foreign manufacturers with low cost of labor is not helped by the high cost of domestic labor. The cost of direct labor forms part of the computations for the cost of a product and its pricing. Cheaper imports are more affordable to consumers than local products, thus causing consumers to prefer imports to domestic products.

4 0

3 years ago

List and the four factors of production.​

List and the four factors of production.