Operations management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs. - True.
Operations management (OM) is the administration of enterprise practices to create the very best level of efficiency viable inside an business enterprise. it's far concerned with converting materials and exertions into items and offerings as effectively as viable to maximize the income of an business enterprise.
What are the three kinds of operations management?
Operations management consists of three ranges: strategic, tactical, and operational
What are the key factors of Operations management?
The important thing elements of Operations management are; Product choice and layout: The proper sort of products and accurate designs of the goods are crucial for the achievement of an agency. A wrong choice of the product and/or negative design of the products can render the employer's operation useless and non-competitive.
What do you examine in operations management?
Blanketed in operations management is the whole thing involved in turning raw materials into deliverable service or product. this may include designing manufacturing structures, employee schooling, centers planning, deliver chain control, stock control, product layout, best control and much more.
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Answer:
Incidence; burden; shifted.
Explanation:
Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.
The different types of tax include the following;
1. Income tax: a tax on the money made by workers in the state. This type of tax is paid by employees with respect to the amount of money they receive as their wages or salary.
2. Property tax: a tax based on the value of a person's home or business. It is mainly taxed on physical assets or properties such as land, building, cars, business, etc.
3. Sales tax: a tax that is a percent of the price of goods sold in retail stores. It is being paid by the consumers (buyers) of finished goods and services and then, transfered to the appropriate authorities by the seller.
Tax incidence can be defined as the manner or an analysis of how the burden of a tax (tax burden) is divided between the producers of goods and services and the consumers. This is to ensure that the burden for the manufacturing of the goods or services falls or rest on both the producer and the consumer of the product.
Generally, the tax incidence of a product is mainly dependent on the price elasticity of demand and supply of the produc
Additionally, indirect taxes can be shifted from one person to another, while direct taxes cannot be shifted at all.
Answer:
Increase
Explanation:
The elimination of minimum wage, means that the wage or "price" for teenage workers will decrease.
Next we can use the information that both type of workers are complements. Remembering that two goods are complements if the cross price elasticity is negative. This means that if the price of one good decreases the demand for the other will increase.
Since the price for teenage workers decreased by the elimination of minimum wage that will make the demand for adult workers to increase.
<u>Index of industrial production</u> is considered to be a coincident economic indicator
An economic indicator is a piece of data that analysts use to analyze existing or potential investment opportunities. These data are often of a macroeconomic scale. The general health of an economy can also be determined using these measures.
Economic indicators can be anything an investor wants them to be, but certain information made public by the government and nonprofits has gained widespread attention. Indicators of the economy can be categorized or grouped. The majority of these economic indicators have a predetermined publication schedule. The industrial production index is regarded as a cogent economic indicator.
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Answer:Line,Batch and Job
Explanation:
An assembly line is a manufacturing process in which interchangeable parts are added to a product in a sequential manner to create an end product. ... The workers and machinery used to produce the item are stationary along the line and the product moves through the cycle, from start to finish.
Batch manufacturing is a style of manufacturing which compiles the different components of a product through step by step processes. This basically means that the raw materials move through the production line in batches, so that there is a pause between each step as a batch moves through.
Job production, sometimes called jobbing or one-off production, involves producing custom work, such as a one-off product for a specific customer or a small batch of work in quantities usually less than those of mass-market products.
