Answer:
Supervision and review ( B )
Explanation:
supervision and review is part of a firm's policy used to check the results of its previous actions or inaction that will affect the growth and profitability of the business of the company .
Review is a way of evaluating the personnel advancement experience of the individuals given a certain task performed the given task excellently, while supervision is used to guide the individuals while they are actually carrying out the task and also to determine if they meet the predetermined criteria before being assigned to the task. while professional ethics is the general standard set for every one regardless of the task you perform .
Answer:
6.00 days
Explanation:
data provided
Inspection time = 3.7 days
Process time = 0.2 days
Move time = 1.3 days
Queue time = 0.8 days
The calculation of throughput time is given below:-
Throughput time = Inspection time + Process time + Move time + Queue time
= 3.7 days + 0.2 days + 1.3 days + 0.8 days
= 6.00 days
Here, we added the inspection time, process time , move time and queue time to reach at throughput time and we ignore the time spent waiting to be worked on in the factory as it is not relevant.
Answer:
The correct answer is : False
Explanation:
The participation in local production might repress the growth of imports in a market for goods made of different types. The domestic demand constitutes a great proportion or potential import suppliers. The domestic industry may influence its reaction to import competition, the prevalence of multinational enterprises (MNEs) is important.
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>
