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3 years ago

Business do not maximise output from the given inputs

Business

1 answer:

Ganezh [65]3 years ago

4 0

Answer:

Allocative inefficiency.

Explanation:

Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.

In Economics, there are four (4) main factors of production and these are;

I. Land.

II. Labor (working).

III. Capital resources.

IV. Entrepreneurship.

When these aforementioned factors of production are combined effectively and efficiently, they can be used for the manufacturing or production of goods and services to meet the unending requirements or needs of the consumers.

Basically, there are two (2) types of inefficiency associated with the production of goods and services to meet the unending requirements or needs of consumers, these includes;

1. Technical (productive) inefficiency: it occurs when a company or business firm produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.

2. Allocative inefficiency: it occurs when a company or business firm do not maximise output from the given inputs such as raw materials, capital, etc. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.

Hence, when a business do not maximise output from the given inputs, it is referred to as an allocative inefficiency.

<em>In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.</em>

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Many Americans are selling their used cars and buying new fuel-efficient hybrids. Other things remaining the same, in the mark

Ann [662]

Answer:

Supply increases and price falls; Demand increases and price increases.

Explanation:

Other things remains the same,

If many Americans are selling their used cars, then this will lead to increase the supply of used cars in the market for used cars and shifts the supply curve rightwards. This shift in the supply curve will decrease the prices of used cars.

Now, Americans are buying new fuel-efficient hybrids which will increase the demand of hybrids in the market for hybrids and shifts the demand curve of hybrids rightwards. Therefore, this shift in the demand curve of hybrids will increase the prices of hybrids.

Note: Missing options are attached with the answer.

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3 years ago

A buyer is concerned about making changes to a historic property he wants to purchase. Who should the buyer consult?

Andreas93 [3]

Answer:

real estate agent

Explanation:

A real estate agent is seen as a licensed professional , whose job or duties is to arrange real estate transactions, putting buyers and sellers together and acting as a representatives in negotiation. this negotiations and purchase are basically made for property procurement.

4 0

3 years ago

Studentka2010 [4]

Answer:

Partial balance sheet of Tamarisk, Inc.

<u>Non Current Assets :</u>

Buildings $1,140,000

Less accumulated depreciation—buildings ($652,000) $488,000

Coal mine $509,000

Less accumulated depletion—coal mine ($107,000) $402,000

Goodwill $421,000

Total $1,311,000

Explanation:

The Items above are Non- Current Assets. Non Current Assets are resources expected to generate economic benefits for a period exceeding 12 months.

8 0

2 years ago

It is said that kone is embedding intelligence across its supply chain and enables smarter buildings. explain.

alexandr402 [8]

KONE started the next stage of its strategy, Sustainable success with consumers, in January 2021. With innovative intelligent solutions, we will increase the value we provide for clients during the four-year strategy term and further integrate sustainability into all of our activities.

Core goods and services: through connectivity and adaptability, they meet the unique demands of each client for a seamless experience. All goods and services shall be made as cost-effective and environmentally friendly as possible.

In order to provide customers with value in new ways, new customer value solutions are being developed and integrated with existing core products and services.

Smart and sustainable cities: become the go-to partner for the construction of smart and sustainable cities.

In this extremely fragmented and fast-growing economy, the service industry in China is becoming the undisputed market leader.

Core values and concepts form the foundation of our culture. We never err on the side of our core values. They consist of sustainability, quality, and safety. The core of our culture is comprised of our values, which stand for the attitudes and actions that KONE wants to encourage.

To learn more about Kone from the given link.

brainly.com/question/27007848

#SPJ4

8 0

1 year ago

Imagine that you invest $100,000 in an account that pays 5.9% annual interest compounded monthly. What will your balance be at t

kodGreya [7K]

The compound interest formula is: $A= P(1+ \frac{r}{n} ) ^{nt}$
Where:
A is the amount you will have.
P is the money you are investing.
r: is the interest rate (in decimals)
n: number of times the interest is compounded per year
t: time (in years)

The first thing is converting the rate from percentage to decimal:
$\frac{5.9}{100} = 0.059$

Since the interest is compounded every month and a year has 12 months n=12.

Now we can replace the values in our formula:
$A=100000(1+ \frac{0.059}{12} ) ^{(12)(18)}$

We can simplify the exponents to get:
$A=100000(1+ \frac{0.059}{12} ) ^{216}$

Finally, we can use our calculator to get 288463.33

After 18 your balance in your bank account will be $288463.33

4 0

3 years ago

Business do not maximise output from the given inputs​

Business do not maximise output from the given inputs