What is a challenge to reporting to more than one manager in a matrix organization? What might be a benefit?What is a challenge to reporting to more than one manager in a matrix organization? What might be a benefit?​

Answers

Answer 1

Answer:

Matrixed organisations can be more efficient than conventional hierarchical organisations in maximising resource use and delivering job development at a faster rate. They could also be slightly frustrating, noisy and more effective if performed incorrectly.

Potential drawbacks in answering to several executives:

Specific Management goals

Diverse modes of service

Varying political strategies

Related Space Access

Specific timescales of their intentions

Potential benefits of answering to several executives:

Connection to a broader network

Chances to switch to other areas of the company improved

Project  development opportunities to develop organisational skills

Expanded capabilities for the company to see the larger picture


Related Questions

reflection about simulation in second day and third day

Answers

Simulation is the process of imitating the operations of a real-world system or process over time. It is usually used to analyze the behavior of complex systems and can provide useful insight into how the system will behave under different circumstances.

The second and third days of the simulation were quite interesting. During this time, we were able to put into practice some of the concepts we had learned during the previous days of the simulation. We were able to work as a team and coordinate our efforts to achieve the desired outcome.

One of the things I noticed during this time was how important communication is when working in a team. It is vital to be able to communicate effectively with other team members to ensure that everyone is on the same page and that the project is progressing smoothly.

We were able to learn from our mistakes and adjust our strategies accordingly. This was a valuable experience as it helped us to develop our problem-solving skills and taught us how to be adaptable and flexible in the face of changing circumstances.

Overall, I found the second and third days of the simulation to be a great learning experience. It provided us with an opportunity to put into practice the skills and concepts we had learned during the first day of the simulation. We were able to work collaboratively as a team and learn from each other's strengths and weaknesses. I believe that the simulation has helped me to become a better problem solver and a more effective team player.

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Which of the following explains the shape of curve 1?Law of Demand Law of Marginal AnalysisLaw of Diminishing Marginal UtilityLaw of Diminishing Marginal Returns

Answers

Principle of Diminishing One of it's following explains how curve 1 is shaped: marginal utility.

Marginal thinking: What is it?

When you think marginally, you take into account how much you would value something being added. You analyze the costs and advantages of introducing anything more while ignoring the sunk costs of what is already scheduled to occur (extra work, money, bananas etc.).

Does mediocre imply failure?

If your evaluation shows some evidence of pertinent learning in connection to the course learning goals but does not meet the course's minimal standards, you received a Marginal Fail (MF), which is a mark between 47% and 49%. If you earn this grade, you could be qualified for an additional test.

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Answer:

b law of marginal analysis

Explanation:

i think

describe two rights and two reposibilities as an employer

Answers

as an employee you have the right to receive money but the responsibility to work as your advisor ask you for as an employee you have the right to work safety but the responsibility to do all is accept, and respectful by that way you can save your life and other by the same time.

i can give you a last exemple

as an employee you have the right to have holiday break because you also need to be with your family but the responsibility to stay in work when you have to.

Some of Best Buy’s internal issues could best be addressed by ______

Answers

Some of Best Buy's internal issues could best be addressed by implementing strategic changes and initiatives. These initiatives should focus on improving various aspects of the company's operations and addressing specific challenges it may be facing.

Here are a few possible approaches:

1-Restructuring and optimizing operations: Best Buy could assess its organizational structure, processes, and workflows to identify areas for improvement and streamline operations. This could involve reevaluating roles and responsibilities, enhancing communication channels, and implementing more efficient systems and technologies.

2-Employee training and development: Investing in comprehensive training programs and professional development opportunities for employees can enhance their skills, product knowledge, and customer service abilities. This can lead to improved employee performance, increased customer satisfaction, and a better overall shopping experience.

3-Inventory management and supply chain optimization: Best Buy could focus on improving its inventory management processes to ensure the availability of popular products and minimize stockouts. Analyzing demand patterns, optimizing supply chain logistics, and strengthening relationships with suppliers can help streamline operations and reduce costs.

4-Enhancing the omnichannel experience: Best Buy could invest in technology and infrastructure to provide a seamless omnichannel experience for customers. This may involve integrating online and offline sales channels, improving website functionality, implementing effective order fulfillment processes, and enhancing the in-store experience through innovative technologies.

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Dog Up! Franks is looking at a new sausage system with an installed cost of $520,000. This cost will be depreciated straight-line to zero over the project’s five-year life, at the end of which the sausage system can be scrapped for $83,000. The sausage system will save the firm $154,000 per year in pretax operating costs, and the system requires an initial investment in net working capital of $32,500. If the tax rate is 23 percent and the discount rate is 11 percent, what is the NPV of this project?

Answers

The net present value of the project is $-40,793.30.

What is the net present value?

Net present value is a capital budgeting method that is used to determine the profitability of a project. The net present value is the present value of the cash flows expected from the project less the cost of the project.

When using the net present value, a project should only be accepted if its net present value is positive. This is because it means that the project is profitable.

Cash flow from the project = (amount the project will save the firm - depreciation) x (1 - tax) + depreciation

Terminal year cash flow = salvage value + net working capital - tax(salvage value - book value)

Depreciation = (cost of the asset - salvage value) / useful life

($520,000 - 0) / 5 = $104,000

Cash flow from the project = ($154,000 - $104,000)(1 - 0.23) + 104,000

= ($50,000 x 0.76) + 104,000 = $142,000

Terminal year cash flow = $83,000 + $32,500 - (0.23 x $32,500) = $108,025

Net present value can be calculated using a financial calculator:

Cash flow in year 0 = $520,000 + $32,500 = $552,500

Cash flow from year 1 to 4 = $142,000

Cash flow in y ear 4 = $108,025

I = 11%

NPV = $-40,793.30

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Which is a demographic factor that a company should consider before deciding to enter into a new country? A) transportation structure B) natural resources C) political stability D) languages E) education

Answers

education is a demographic factor that a company should consider before deciding to enter into a new country.

Statistics used to describe population characteristics are known as demographics. Using criteria like age, race, and sex, demographic analysis examines a population. The term demographic factor refers to statistically stated socioeconomic information about employment, education, income, marriage rates, birth and death rates, and other topics. In order to better understand a population's characteristics for a variety of purposes, including economic market research and policy creation, governments, businesses, and non-governmental groups employ demographics. In order to increase the number of people who can buy their products, for instance, a company that sells high-end RVs may seek to reach those who are approaching or at retirement age. Individual data like gender, age, marital status, number of children, occupation, level of education, and linguistic heritage are all considered to be demographic factors or variables.

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The shape of a normal Treasury yield curve can be characterized as: (a) inverted throughout the maturity spectrum; (b) inverted over a portion of the maturity spectrum, such as between 2 and 7 years; (c) monotonically upward sloping; (d) unaffected by the relative supply and demand for Treasury securities.

Answers

Answer:

(c) monotonically upward sloping

Explanation:

The shape of a normal Treasury yield curve can be characterized as monotonically upward sloping curve. This is because a normal treasury yield curve have lower yields for short term, but gradually increases as the maturity period of the bonds increases. Thus, giving the yield curve an upward sloping shape.

A benefit of a monopoly is:
a. greater creativity by authors who can copyright their novels.
b. a wide variety of similar products.
c. decreasing long-run average total costs.
d. lower prices.

Answers

A benefit of a monopoly is: a. greater creativity by authors who can copyright their novels.

What is monopoly?

Because they give artists and innovators the chance to acquire exclusive rights and financial rewards through intellectual property rights, such as copyright protection, monopolies may be an incentive for creativity and innovation.

Knowing that they may enjoy exclusive ownership and possible financial advantage from their works might motivate authors to invest in producing original and distinctive works.

Therefore the correct option is A.

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Which situation best illustrates an effect of the law of supply?
A. A car company sells a lot more cars after it lowers its prices.
B. A theater sells more tickets when income rise across a country.
C. A store stocks more phones when it learns that their selling price has gone up.
D. A restaurant increases the number of items on the menu to attract customers.​

Answers

Law of supply is the direct relationship between quantity and price. So when prices increase the quantity will increase, this is best demonstrated by C.

The situation best illustrates the effect of the law of supply A store stocks more phones when it learns that its selling price has gone up. Thus teh correct option is C.

What is Supply?

Supply is referred to as making the availability of the demanded object in the market. This can be goods, commodities, or currencies as well. If the supply of demanded goods is not fulfilled it reflects scarcity.

According to the law of demand, when a good's price increases, fewer people will buy it. The amount requested for a good will increase as its price declines in the market.

The amount supplied and price fluctuations for a product are related by the law of supply. Unlike the law of demand, the law of supply has a direct relationship.

Therefore, option C is appropriate.

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What two types of debt are most common for Millennials? How does this compare to Baby Boomers and Generation X?

Answers

The two types of debt that are common in millennials is credit card debt and loan debt.

This can be compare to baby boomers and generation x because about 60% of millennials in debt are student loans, while about 43% of debt are Gen Xers and roughly 18% of debt are baby boomers.

What is debt?

Debt refer to an amount of money or things that is borrowed by someone from another person.

Debt is something a person owed.

Credit card debt refer to when a client use his card system to borrowed money or purchased something he did not pay for.

Loan debt is the amount of money owed by a student.

Therefore, The two types of debt that are common in millennials is credit card debt and loan debt.

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PLEASE HELP ME QUICK!
Which of these is not an example of a trade restriction?
a. paying a subsidy to domestic farmers
b. charging a tariff on imports
c. taking land to build an airport
d. limiting the import of certain goods

Answers

Answer:

c. taking land to build an airport.

Explanation:

While the other options (a, b, and d) are examples of trade restrictions, the act of taking land to build an airport is not directly related to trade restrictions. It is more related to the acquisition of land for public infrastructure development, which may involve eminent domain or other legal processes.

Three primary ledgers used in double-entry bookkeeping?

Answers

Answer:

General ledger

The chart of accounts

Journals

Explanation:

The general ledger contains all the transactions carried out and registered by the company.

The chart of accounts is lists and codes all the accounts that are used by the by the company, e.g. cash might be account 101.

The journal entries are the individual entries recorded in the general ledger or any other specific ledger.

PLEASE HELP HURRY!! 20 POINTS!! WILL MARK BRAINLIEST IF CORRECT!
You are a concerned constituent, and you want to help your House Representatives member or Senator draft a bill that would help the federal government raise revenue. Where should you submit the bill?


directly to the President for his signature

either to your Congressional District Representative or Senator

only to your Senator

only to your Representative

Answers

Answer:

to the president

Explanation:

because he has to see if he has to veto or pass it

Dean brings up the ambiguity branch managers at First National Bank face. He believes senior leadership needs to make it clear what managers’ most importanDean brings up the ambiguity branch managers at First National Bank face. He believes senior leadership needs to make it clear what managers’ most important priorities are. This thinking most closely resembles which of the following four-frame model principles?

.

Social architecture
b.

DEVELOP AGENDA AND POWER BASE

c.

INSPIRATION

d.

ALIGN ORGANIZATIONAL AND HUMAN NEEDS

e.

TECHNOLOGY

Answers

Dean's thinking, in bringing up the ambiguity facing branch managers at First National Bank, most closely resembles option d. ALIGN ORGANIZATIONAL ...

 

Ordinarily, the four-frame model mandates that the senior leadership of First National Bank must ensure that their branch managers' behavior and actions do not sabotage management strategic plans and business models.

 

This feature of the Human Resources framework ensures that organizational goals are aligned with human needs for the achievement of company objectives.

Branch managers perform important customer-facing roles that drive corporate performance.  They are also in direct contact with many employees.

 

Thus, the alignment of organizational and human needs will help clear the ambiguity faced by the managers at First National Bank branches.

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Explain international trade, alliance and conflict

Answers

International trade is the exchange of goods and services between countries. It is an important part of the global economy, as it allows countries to specialize in certain industries and to purchase goods and services from other countries. Alliances are agreements between two or more countries to cooperate in areas such as trade, defense, or foreign policy. Conflict is a disagreement or clash between two or more parties, usually involving the use of force or the threat of force. Conflict can be between countries, groups, or individuals.

start-up organization is using the cost explorer tool to view and analyze its costs and usages. which of the below statements are correct with regards to the cost explorer tool? (Select 2)
a. Data is available for up to the last 24 months
b. Provides forecast of the likely spend for the next six months
c. Spot Instances to purchase are recommended
d. Identifies areas that need further inquiry
e. Provides trends that you can use to understand your costs

Answers

Regarding the cost-explorer tool for the start-up organization, the following claims are true

d. Identifies areas that need further inquiry

e. Provides trends that you can use to understand your costs

What do you mean by Start-up?

Startups are often started by a founder (solo-founder) or co-founders who have an innovative approach to a particular issue. A startup's founder will start by conducting issue and solution interviews and developing a minimum viable product (MVP), or prototype, to develop and verify their business concepts. According to some estimates, the beginning phase can take three years or longer, therefore ongoing work is necessary. Given the high failure rates and ambiguous results over the long run, maintaining effort is particularly difficult.

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Looking to invest in his first pair of dress shoes, Sean is deciding between a pair of slip-on shoes and a pair of traditional lace-up wingtips. In this case, the slip-ons cost $50 more than the wingtips. Which of the following should be included in the opportunity cost of buying the slip-ons?
a. the classic, snazzy look that comes with wearing wingtips.
b. the pride that comes with wearing a pair of wearing wingtips Alden shoes.
c. the savings that would come from buying the wingtips.
d. the no-lace convenience of slip-ons.
e. the money that would be spent to buy the wingtips.

Answers

The option that should be included in the opportunity cost is c. the savings that would come from buying the wingtips.

What is Opportunity Cost?Arises from the fact that scarcity forces us to pick an alternative over another. Is quantified as the benefit of an alternative that is foregone when we pick another alternative.

The benefit that would be foregone in picking the slip-ons would be the $50 saving that Sean would have made had he picked the wingtips.

In conclusion, option C is correct.

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in preparation of standard cost we consider what situation macroeconomics or microeconomics???​

Answers

When preparing standard costs, we primarily consider microeconomics, which is the study of the behavior of individual consumers, firms, and industries. Standard cost is the estimated cost of producing a unit of product or service, based on historical data and budgeted costs.

It is used as a benchmark to compare actual costs with expected costs and to analyze the variances between them. In order to determine standard costs, we need to consider the cost of each individual input such as direct materials, direct labor, and overheads. This analysis is done at the microeconomic level because it involves the behavior and decision-making of individual firms and their interactions with suppliers, customers, and competitors.

The macroeconomic factors such as inflation, interest rates, and unemployment rates may also have an impact on the cost of production but these are generally outside the scope of standard cost analysis. Therefore, while macroeconomics can indirectly influence the cost of production, the focus of standard cost analysis remains on the microeconomic factors that affect the cost of individual inputs.

Overall, standard cost preparation involves a detailed microeconomic analysis to determine the estimated cost of producing a product or service, which is then compared with the actual costs to identify any variances and improve the cost efficiency of the firm.

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According to safety protocols, what should be Paula’s next course of action?

She should attempt to fix the mesh screen on the electric stacker.
She should inspect all of the machines in the warehouse.
She should inform her manager of the problem with the equipment.
She should make sure to wear the proper safety gear while using the stacker.

Answers

Answer:

c) she should inform her manager of the problem

Explanation:

Answer: c) she should inform her manager of the problem

Explanation: Got a 100

1. You are an adult employed in your favorite career. You earn
$15.00 per hour. Every hour over 40 per week, you earn
1.5 times your current rate. Based on the schedule listed
below, how much money did you earn last week

Answers

Assuming you worked 50 hours last week, the total amount of money that you earned based on the work rate described above, is $825.

When you work for 40 hours in a week, you are normally paid $15 for each of those hours. This means that out of the 50 hours you worked, the normal salary you made was:

= Number of hours in week x Amount per hour

= 40 x 15

= $600

The total amount of hours you worked over 40 was:

= 50 - 40

= 10 hours

For these 10 hours, you are paid 1.5 your normal rate of $15 per hour which means that you made:

= 10 x 15 x 1.5

= $225

The total you made was therefore:

= Normal salary x Amount earned for working over 40 hours

= 600 + 225

= $825

In conclusion, you earned $825 last week.

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Which element of the marketing mix is affected when the Mandarin Oriental hotel in New York increases its weekend rates to $795 per night?

Answers

Price is the element of the marketing mix is affected when the Mandarin Oriental hotel in New York increases its weekend rates to $795 per night.

What is the primary goal of marketing?

In actuality, the core goal of marketing is to use messaging to draw customers to your brand. In order to turn customers into leads, your messaging should ideally be instructive and beneficial to your target demographic.

What is an illustration of marketing?

In a nutshell, it is an action made to draw attention to a business's offerings, which may include both tangible products for sale and services provided. Television commercials, billboards at the side of the road, and magazine adverts are typical instances of marketing at work.

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Refer to the table. If demand is represented by columns (3) and (1) and supply is represented by columns (3) and (4), equilibrium price and quantity will be.(The graph and answers for the question is in the picture below)
$9 and 60 units.
$10 and 60 units.
$8 and 80 units.
$8 and 60 units.
$9 and 70 units.

Refer to the table. If demand is represented by columns (3) and (1) and supply is represented by columns

Answers

If demand is represented by columns (3) and (1) and supply is represented by columns (3) and (4), equilibrium price and quantity will be option A: $9 and 60 units.

Why is the above at equilibrium price and quantity?

Demand and supply forces are balanced at an equilibrium price. Prices have a propensity to return to this equilibrium unless certain demand or supply characteristics alter. When demand, supply, or both move or change, the equilibrium price will be altered.

Therefore, The quantity supplied exceeds the quantity required when the price is above the equilibrium market price because suppliers will be willing to supply more at that price and consumers will be willing to buy less at that price.

Looking at the table, you will see that the quantity demanded at  $9 was the quantity supplied (60 units), hence it is at the equilibrium.

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A negative balance of trade is called:
a. Balance of payment
b. Negative exporting
C. Under-trading
d. Trade deficit

Answers

Answer:

A. Balance of payment

Explanation:

God luck po sa sagot ko po Sana makatulong

How are payday lenders different from a bank or credit union?

A. Payday lenders usually offer loans at a much lower rate than
banks and credit unions.
B. Payday lenders usually don't require collateral, unlike banks and
credit unions.
C. Payday lenders often offer loans to people who are unable to get a
loan from a bank or credit union.
D. Payday lenders often offer loans for a longer term than banks or
credit unions.

Answers

The difference between payday lenders and a bank or credit union is B. Payday lenders usually don't require collateral, unlike banks and credit unions.

What is payday lending?

Payday lending is a type of short-term borrowing where a borrower receives a high-interest credit based on personal income.

The characteristics of payday lending include:

Small-term loansSmall amounts of money are involvedAvailable at short noticeInterest rates are high.

Thus, the difference between payday lenders and a bank or credit union is B. Payday lenders usually don't require collateral, unlike banks and credit unions.

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Answer: the answer is C (PAYDAY LENDERS OFTEN OFFER LOANS TO PEOPLE WHO ARE UNABLE TO GET A LOAN FROM A BANK OR CREDIT UNION!!!)

Explanation: I just took the test!

The US Senate overwhelmingly passed the 2022 Defense Authorization Act. The $768 billion "Defense Authorization Act" not only exceeds the defense spending proposed by the Biden administration by $25 billion, but also increases the US defense budget by about 5% compared to last year.

Answers

The US Senate passed the 2022 Defense Authorization Act, a $768 billion bill that surpasses the Biden administration's defense spending proposal by $25 billion and represents a 5% increase in the US defense budget compared to the previous year.

1. The US Senate passed the 2022 Defense Authorization Act.

2. The Defense Authorization Act is a bill that determines the budget and expenditures for the US defense sector.

3. The total amount allocated for the Defense Authorization Act is $768 billion.

4. The defense spending proposed by the Biden administration was exceeded by $25 billion in this Act.

5. The Act represents a 5% increase in the US defense budget when compared to the previous year.

6. This increase in the defense budget indicates a commitment to strengthening the country's defense capabilities.

7. The Act was passed overwhelmingly, indicating strong support from the Senate.

8. The Defense Authorization Act is an essential piece of legislation that ensures the funding and resources necessary for the US military to carry out its operations effectively.

9. The Act covers various aspects of defense spending, including military personnel, equipment, research and development, and strategic initiatives.

10. By passing the Defense Authorization Act, the US Senate has demonstrated its commitment to national security and defense preparedness.

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Suppose that the production function is y= 9k^0.5 N^0.5. With this production function, the marginal product of labor is MPN= 4.5K^0.5 N^-0.5. The capital stock is K= 25. The labor supply curve is NS= 100[(1-t)w]^2, where w is the real wage rate, t is the tax rate on labor income, and hence (1-t)w is the after-tax real wage rate.c.Suppose that a minimum wage of w=2 is imposed. If the tax rate on labor income, t, equals zero, what are the resulting values of employment and the real wage? Does the introduction of the minimum wage increase the total income of workers, taken as a group?

Answers

The resulting values for employment and the real wage are 70.3125 and $1.5811 per hour, respectively.

The introduction of the minimum wage does not increase the total income of workers taken as a group.

How to determine employment and real wage

To find the resulting values of employment and real wage, determine where the labor supply curve intersects the labor demand curve.

MPN =

\(4.5K^0.5 N^-0.5 = (9K N)^0.5 / (2KN)^0.5 = (9/2)^0.5 (K/N)^0.5 = w/P

\)

where P is the price of output, which we can assume is equal to 1.

This equation can be rearranged to solve for N:

N =

\((9/2) (K/w)^2\)

Plugging in K = 25 and w = 2, we get:

N =

\((9/2) (25/2^2) = 70.3125\)

To find the real wage, we can plug this value of N into the labor supply curve:

NS =

\(100[(1-t)w]^2 = 100(1-0)(2)^2\)

= 400

Since labor supply exceeds labor demand, the real wage will be bid down to the equilibrium level.

\((9/2)^0.5 (K/N)^0.5 = w/P

(9/2)^0.5 (25/N)^0.5 = 1/2

N = (9/2) (25/2^2) = 70.3125

w = 2(70.3125/100)^0.5 = 1.5811\)

The equilibrium real wage is $1.5811 per hour.

To determine whether the introduction of the minimum wage increases the total income of workers,

Total income before minimum wage = wN = 1.5811 x 70.3125 = $111.31

After the minimum wage of $2 is imposed, the real wage is fixed at $2, and the level of employment is determined by the intersection of the labor supply and demand curves at this wage:

N =

\((9/2) (25/2^2) / (2)^2 = 35.15625\)

Total income after minimum wage = wN = 2 x 35.15625 = $70.31

Since the total income of workers decreases from $111.31 to $70.31 after the minimum wage is imposed, the introduction of the minimum wage does not increase the total income of workers taken as a group.

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What is market environment

Answers

Answer:

The market environment is the combination of external and internal factors that affect a company's ability to establish a relationship with and serve its consumers.

Explanation:

The internal factors relate to the company itself, such as owners, workers, materials, components, etc.

The external factors are divided into macro and micro components. The macro component is the broad environment which includes societal forces that affect society as a whole. The micro component is task-related, which includes factors that influence the production, manufacturing and distribution of a product or service.

Tefft Industries has an average inventory of $170,000, sells on terms of 2/10, net 30, and its cost of sales is $540,000. What is Tefft's inventory conversion period?
a.cannot be determined from the data given
b.85 days
c.115 days
d.105 days

Answers

Based on the information given Tefft's inventory conversion period is:

c.115 days.

Inventory Conversion Period:

Using this formula

Inventory Conversion Period=Average Inventory÷(Cost of Sales÷365 days)

Let plug in the formula

Inventory Conversion Period=$170,000 ÷ ($540,000÷365)

Inventory Conversion Period=$170,000 ÷  (1479.45205479)

Inventory Conversion Period=114.907407408

Inventory Conversion Period=115 days(Approximately)

Inconclusion Tefft's inventory conversion period is:  c.115 days.

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Alpha Wood Interiors announced that it is going out of business. As of today, no more regular dividends will be paid. The firm will, however, pay two liquidating dividends. The first will be paid one year from now in the amount of $17 a share. The second and final payment will be paid two years from now at an estimated $32 a share. What is the value of this stock today at a discount rate of 6 percent

Answers

Answer:

$44.52

Explanation:

The value of the stock today can be determined by finding the present value of the liquidating dividends

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow in year 1 = 17

Cash flow in year 1 = 32

I = 6%

PV = $44.52

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

Critical Thinking
7. Classify Identify the factor of pro-
duction represented by each of the
following: (a) fishing waters, (b) an
office building, (c) clerks in a store,
(d) a tractor, (e) a student in a cook-
ing school. Explain.
Quic
10. Loo
Wo
list
ar
n
8. Infer If companies can become
more productive by increasing their
physical capital, why would a com-
pany not buy up-to-date computers
for all employees each year?
9. Apply Think of a good or service
that you consumed today. List at
least five factors of production used
to produce that good or service.
Include at least one example each of
land, labor, and capital.

Answers

7. The production factor are, (a) fishing waters Land, (b) an office building Capital, (c) clerks in a store Labor, (d) a tractor Capital, (e) a student in a cooking school Entrepreneurship.

What is factor of production?

There are four factors of production namely, land, labor, capital and entrepreneurship.

8. Infer If companies can become more productive by increasing their

physical capital, why would a company not buy up-to-date computers

for all employees each year?

Companies can become more productive if they keep their assets up to date, but the assets have a specific life and can be used up to it. The assets must be utilized for its specific life to minimize the expenses and maximize the profit.

9. Apply Think of a good or service that you consumed today. List at

least five factors of production used to produce that good or service.

Include at least one example each of land, labor, and capital.

I consumed food today this included more than five factors of production, the food was cooked by a chef this is labor, the food was cooked in a kitchen that was the land, the food was served in a restaurant that is the entrepreneurship and the food was prepared by mixing many ingredients for example, rice, meat and spices this make the capital.

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