All categories

3 years ago

Factors of production

Business

1 answer:

vitfil [10]3 years ago

8 0

Answer:

Factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

Explanation:

pls Mark my answer in brainlist and follow me

You might be interested in

Two gamblers bet $1 each on the successive tosses of acoin. Each has a bank of $6. What is the probability that:a They break eve

strojnjashka [21]

Answer:

Part a: The probability of breaking even in 6 tosses is 0.3125.

Part b: The probability that one payer wins all the money after the 10th toss is 0.0264.

Explanation:

Part a

P(success)=1/2=0.5

P(Failure)=1/2=0.5

Now for the break-even at the sixth toss

P(Break Even)=P(3 success out of 6)

P(3 success out of 6)

$=^6C_3/(2^6)\\=5/16\\=0.3125$

So the probability of breaking even in 6 tosses is 0.3125.

Part b:

So the probability that one of the player wins all the money after the 10th toss is given as the tenth toss is given as a win so

Wins in 9 tosses is given as 9!/7!=72

The probability that the other person wins

Wins in 8 out of 10 tosses is given as 10!/8!(10-8)!=10!/8!2!=45

So the probability of all the money is won by one of the gambler after the 10th toss is given as

P=number of wins in 9 tosses-Number of wins in 10 tosses/total number of tosses

P=(72-45)/2^16

P=0.0264

So the probability that one payer wins all the money after the 10th toss is 0.0264.

8 0

3 years ago

You are sitting around the fire at a lodge in Dillingham, Alaska, discussing a fishing expedition you are planning with your col

maw [93]

Solution :

Risk management first involves the identification of the potential risk that may be involved. It should focus both on the objectives as well as events that could cause the consequences.

Some of the major risks that can be involved are :

• sudden weather conditions which may not support the flight travel.

• Embargo on fishing by the State or local authority suddenly

• any kind of physical injury to the members of the group

• there may be forest fire around the lake

• technical error that might occur during the course of adventures

The impact for the risk that includes the majuere risk will be very high for all the parameters that can increase the cost by 40%, it can also lead to increase in time by about 20% which can cancel the expedition. . These types of risk will not be covered under any scope.

For the physical risk, the impact will be moderate for the parameters.

Risk Response Matrix

Risk Response Contigency plan Trigger Who is responsible

Force Mitigate Choosing another Situation is Nils

Majuere destination as a back not clear in

up. 24 hours.

Physical Mitigate Proper training and After observing Eddie

injury safety kits the participants

7 0

2 years ago

How many points are in the LEED-NC rating system? A. 21 B. 45 C. 69 D. 110

Lerok [7]

B is the answer I hope this helps

7 0

3 years ago

Read 2 more answers

The use of block grants, allowing states considerable leeway in how federal money is spent, was championed by President ________

AfilCa [17]

Answer:

President Richard NIxon

Explanation:

The President Nixon administration came up with the idea to decentralize power as well as some programs to the state governments of the USA to reduce the pressure on the Federal government in the wake of the continued unrest from the Vietnam war alongside unemployment, etc.

In decentralizing power and programs, the giving of block grants and aids to states ensured the reduction in the dependence of the economy on the federal government and as such states began to take care of problems within it.

Cheers.

8 0

3 years ago

Internal rate of return method The internal rate of return method is used by Testerman Construction Co. in analyzing a capital e

Eddi Din [679]

Answer:

Testerman Construction Co.

Internal rate of return method in analyzing capital expenditure:

Present value of expenditure = $149,630

Present of cash inflows annuity = $149,630 (using 20% discount rate and present value annuity factor of 3.3251 x $45,000)

NPV = $0 (PV of cash outflow - PV of cash inflow)

Therefore, the IRR = 20%

Explanation:

a) Data and Calculations:

Investment cost = $149,630

Annual net cash flows = $45,000

Investment period = 6 years

Annuity of future cash flows = 3.3251

b) Testerman’s IRR (Internal Rate of Return) is a capital budgeting and analysis tool which determines the discount rate that makes the present value of future inflows equal to the present value of outflows from a project. This IRR helps the managers to determine the projects that add value and are worth undertaking. IRR is based on assumptions. Similar projects with the same IRR will differ in returns due to the differences in timing and the size of the cash, the amount of debts and equity used to generate the returns, and the assumption of a constant reinvestment may which IRR makes.

7 0

3 years ago

Factors of production ​

Factors of production