Answer:
The identification and selection of activities to maximize the value of the activities while minimizing their cost from the perspective of the final consumer of the product or service
Explanation:
Activity-based management (ABM) is defined as the identification and selection of activities to maximize the value of the activities while minimizing their cost from the perspective of the final consumer of the product or service
Answer:
d. I and II only.
Explanation:
If a night shift is added, then total production output should increase (that is the whole idea of adding that extra hours of production time).
Economic growth will increase because even though capital is the same (the same factory), other production factors will be new, e.g. labor and land (materials).
The production possibilities frontier should shift outward, i.e. it should expand. The shift will not happen along the existing curve.
Answer:
B
Explanation:
When we talk of a decreasing cost industry, we refer to an industry in which the expansion of the industry will lead to a decrease in the unit production cost.
So with respect to the question at hand , the correct answer is that the input prices will fall as industry expands
The case of a a technological improvement is expected to drive a decrease in the input prices for production in the expanding industry
