Answer:
Option (C) is correct.
Explanation:
Given that,
Estimated overhead cost = $1,540,000
Estimated direct labors (in dollars) = $3,360,000
Estimated direct labor hours = 240,000
Actual overhead cost = $1,240,000
Predetermined overhead rate:
= Estimated overhead cost ÷ Estimated direct labor hours
= $1,540,000 ÷ 240,000
= $6.42 per direct labor hour
Lisa always wondered why the shower in the upstairs bathroom suffered from low flow. She finally determined that the filters in the water softener had not been changed in a decade. She decided to install a larger water softener and maintain it regularly.
The installation of the larger water softener corresponds to which step in the TOC process?
A. Exploit the constraint.
B. Subordinate everything to the constraint.
C. Elevate the constraint.
D. Identify the constraint.
The installation of the larger water softener corresponds to elevate the constraint in the TOC process.
Option C
Explanation:
An idea supported by Eliyahu Goldratt, which is the hypothetical base of inventory network the executives. TOC is a model that clarifies the effect on benefit from basic leadership by a store network regarding time. TOC is likewise a technique for overseeing bottlenecks.
The "TOC (Theory of Constraints)" created by Eliyahu Goldratt is a technique for expanding throughput by overseeing "requirements" (bottlenecks). It is an idea that fills in as the hypothetical base of production network the executives and a model that clarifies the relationship of factors in business regarding how income based benefit is influenced by basic leadership in the inventory network concerning business forms as far as time.
As a figurative clarification, how about we utilize the case of "a gathering climbing", to depict the administration of improving throughput by utilizing the TOC .
The installation of a larger water softener by Lisa to improve water flow is an example of 'Elevate the constraint' in the TOC process, as she is improving the system's capacity to handle the identified constraint.
Explanation:The installation of the larger water softener corresponds to the 'Elevate the constraint' step in the Theory of Constraints (TOC) process. Lisa identified the constraint (low water flow due to water softener's filters) and took steps to relieve the constraint by replacing the existing unit with a larger, more efficient one, thus addressing the root cause of the problem.
Water softeners play a crucial role by removing calcium, magnesium, and certain other metal cations in hard water. The ion exchange process is one of the most common methods used in water softeners, where hard water ions such as Ca︀ and Mg︀ are replaced with more acceptable ions like Na︀. By installing a larger water softener and maintaining it regularly, Lisa is ensuring that water flow issues due to accumulation of scale and hard water minerals are minimized, leading to improved water quality and flow rate.
Choose the correct answer below.
A. SST is the third sum of squares. It represents the total variation among all the sample data.
B. SST is the treatment sum of squares. It represents the variation among the sample means.
C. SST is the total sum of squares. It represents the difference between the other sums of squares.
D. SST is the total sum of squares. It represents the total variation among all the sample data.
Answer:
D. SST is the total sum of squares. It represents the total variation among all the sample data.
Explanation:
Analysis of variance (ANOVA) "is used to analyze the differences among group means in a sample".
The sum of squares "is the sum of the square of variation, where variation is defined as the spread between each individual value and the grand mean"
If we assume that we have [tex]p[/tex] groups and on each group from [tex]j=1,\dots,p[/tex] we have [tex]n_j[/tex] individuals on each group we can define the following formulas of variation:
[tex]SS_{total}=\sum_{j=1}^p \sum_{i=1}^{n_j} (x_{ij}-\bar x)^2 [/tex]
[tex]SS_{between}=SS_{model}=\sum_{j=1}^p n_j (\bar x_{j}-\bar x)^2 [/tex]
[tex]SS_{within}=SS_{error}=\sum_{j=1}^p \sum_{i=1}^{n_j} (x_{ij}-\bar x_j)^2 [/tex]
And we have this property
[tex]SST=SS_{between}+SS_{within}[/tex]
If we analyze SST compares the individual values respect the grand mean [tex]\bar x[/tex] in order to find the total variation. so the best option for this case is:
D. SST is the total sum of squares. It represents the total variation among all the sample data.
A common reason for redeeming a bond prior to its maturity date is ______.
a. the stated interest rate decreased
b. the stated interest rate increased
c. market interest rates decreased
d. the market price of the bond decreased
Answer:
Correct option is (c)
Explanation:
Market interest rate and price of the bond are inversely related.if market interest rate falls and is lesser than stated interest rate (coupon rate), then the bond becomes attractive and its price increases. So, bond can be solved at present higher than the maturity value. This is the reason bond is redeemed before maturity.
On the other hand, if market rate increases, bond becomes less attractive as investors can earn more by investing at market interest rate. So price of bond falls and there is no point redeeming it before maturity.
Which of the following is a problem that arises in a health insurance market?
There exists a fierce competition between the insurance providers.
There are a large number of buyers of various insurance programs.
A disproportionate number of high-risk individuals are attracted to buy insurance.
Only risk-averse individuals buy insurance.
Answer: The correct answer is "A disproportionate number of high-risk individuals are attracted to buy insurance.".
Explanation: A disproportionate number of high-risk individuals are attracted to buy insurance is a problem that arises in a health insurance market. Due to the greater risk, many insurers choose not to allow these individuals to hire these policies, and those that do offer these products do so with a higher premium than others.
Sales of Schwinn's apartment-sized exercise machine have experienced a steady climb; however, the profits have been negative. The Schwinn exercise machine is most likely in the ____ stage of the product life cycle.
Answer:
The Schwinn exercise machine is most likely in the introduction stage of the product life cycle.
Explanation:
The life cycle of a product is characterized by the phases:
1- introduction,
2- growth,
3- maturity
4- decline.
The first step is the introduction, which characterizes the product's insertion in the market, and includes business efforts to make consumers aware of the product. This phase has as its main characteristics the low volume of production and sales.
The Schwinn exercise machine is likely in the introduction stage of the product life cycle because sales are climbing but profits remain negative, often due to initial high costs.
The Schwinn exercise machine, which has seen a steady increase in sales but negative profits, is likely in the introduction stage of the product life cycle. During the introduction stage, sales begin to grow but the profits may not be positive due to high costs associated with product development and marketing. As the product becomes more established in the market, economies of scale and increased efficiency can help shift the product into the growth stage, potentially making it profitable.
According to the consumption function,
what variables determine aggregate spending on consumer goods and services?
A. Consumer spending depends on disposable income, the real interest rate, and other variables such as consumers' optimism and wealth.
B. Consumer spending depends on disposable income, the real interest rate, and the export-to-import ratio.
C. Consumer spending depends only on disposable income and the real interest rate.
D. None of the above are correct.
Answer:
The correct answer is option A.
Explanation:
Consumer spending refers to the expenditure of households on consumer goods and services. The aggregate consumer spending depends upon the disposable income of the consumer, the real interest rate, consumer optimism and wealth.
Consumer spending is positively related to disposable income, consumer optimism and wealth. The real interest rate is inversely related to consumer spending.
The Smoot-Hawley Tariff Act was supposed to protect America’s businesses by raising taxes on imported goods. How did the tariff affect America? American businesses grew. Foreign countries retaliate and hurt American businesses. Americans responded by buying more foreign goods. Foreign countries were more willing to do business in America.brainly
Answer:
Foreign countries retaliate and hurt American businesses.
Explanation:
The Smoot-Hawley Tariff Act raised tariffs on imported goods, especially agricultural goods. The effects of tariffs back then and now are the same, they end up hurting the economy.
When any country increases tariffs on another's country's products, the other country will retaliate and increase tariffs on American products. The same that is happening now with China, happened back then.
Answer:
B and C
Explanation:
edge 2023
Automatic stabilizers create _____________ during recessions from things like increased government spending on welfare and unemployment insurance, and reduced tax revenues, and create ____________ during peak growth periods of the economy from things like reduced government welfare spending and increased tax revenues.
a. Fiscal stimulus, fiscal contraction.
b. Fiscal stimulus, fiscal stimulus.
c. Fiscal contraction, fiscal stimulus.
d. Fiscal contraction, fiscal contraction.
Answer:
a. Fiscal stimulus, fiscal contraction.
Explanation:
Fiscal stimulus -
It refers to efficiently increases the growth rate of the public debt or increase the government consumption or reducing the taxes , is known as the Fiscal stimulus .
Fiscal Contraction -
It helps to forecast , the reducation in the spendings of the government which can atler the future expectations regarding the taxes and government spending will increase the private consumption and will lead to the increament in the overall economy .
Which of the following budgets usually shows separate sections for fixed and variable costs?A. Direct materials and manufacturing overhead budget.B. Manufacturing overhead budget and production budget.C. Operating expenses budget and manufacturing overhead budget.D. Production budget and manufacturing overhead budget.
The budgets that show separate sections for fixed and variable costs are the Manufacturing Overhead Budget and the Operating Expenses Budget.
The budget that typically shows separate sections for fixed and variable costs is the Manufacturing Overhead Budget and the Operating Expenses Budget. Fixed costs are expenditures that do not change regardless of the level of production, such as leases, salaries of top management, and costs of machinery. Variable costs, on the other hand, change with the level of production and include costs for raw materials and utilities.
In an Operating Expenses Budget, businesses plan for expenses that do not directly tie to the production of goods, such as marketing costs and administrative salaries. Both fixed and variable components may be included. Similarly, the Manufacturing Overhead Budget includes fixed costs, often referred to as overhead, and can also include variable costs related to the production process.
Therefore, the correct answer to the student's question is C. Operating Expenses Budget and Manufacturing Overhead Budget.
Over time, technological advance increases consumers’ incomes and reduces the price of smartphones. Each of these forces increases the amount consumers spend on smartphones if the income elasticity of demand is greater than ________ and if the price elasticity of demand is greater than ________.
a. zero, zero
b. zero, one
c. one, zero
d. one, one.
Answer:
The correct answer is b. zero, one
Explanation:
Given an increase in the income of consumers, they usually increase their amount consumed, and vice versa. The income elasticity of demand measures the proportion of the increase in the consumption of a product before a proportional change in income.
Elasticity Demand income = Proportional variation in the amount consumed of a product / Proportional variation in consumer income.
Price elasticity of demand (EPD, PED, Ep or Ed) is a measure used in economics to show the degree of response, or elasticity, of the quantity demanded of a good or service to changes in the price of said good or service. It grants the percentage change of the quantity demanded in relation to a unit percentage change in the price, considering that the rest of the determinants of the demand, such as income, remain constant (ceteris paribus). It was conceived by English economist Alfred Marshall.
Price elasticities are almost always negative, although analysts tend to ignore the sign, although this may lead to ambiguities. Only goods that do not conform to the law of demand, such as Veblen or Giffen, have a positive EPD. In general, the demand for a good is considered inelastic (or relatively inelastic) when the EPD is less than one (in its absolute value); This happens when changes in the price have a relatively small effect on the quantity demanded of the good. The demand for a good is considered elastic (or relatively elastic) when its EPD is greater than one (again, in its absolute value); that is, when changes in the price have a relatively large effect on the quantity of the demanded good.
Technological advances which increase consumers' income and reduce the price of smartphones will result in increased expenditure on smartphones if the income elasticity of demand and price elasticity of demand are both greater than one.
Explanation:Technological advances that increase consumers' income and reduce the price of smartphones will increase the amount consumers spend on smartphones - given that is, the income elasticity of demand is greater than one (1), and the price elasticity of demand is greater than one (1). Thus, the answer should be d. one, one.
The income elasticity of demand is a measure of how much the quantity demanded of a good changes in response to a change in income. If it's greater than one, that indicates that the goods are a luxury, and as income rises, consumers will spend a larger proportion of their income on these goods.
Moreover, the price elasticity of demand measures how much the quantity demanded of a good responds to a change in the price of that good. If this is greater than one, it means that consumers are very responsive to price changes, and a decrease in the price of smartphones would lead to a more than proportional increase in the quantity demanded and hence, total expenditure on these goods.
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Bob applies for an insurance policy and, because of his medical history, is required to submit an attending physician's statement. He receives the evaluation, and the report is submitted. The underwriting department still has further questions but is unable to get further information from the physician. What will the insurer most likely do?
Answer:
The insurance company will not issue Bob a policy until all their questions have been answered. No company will issue a policy unless they are certain about the health condition of the insured individual.
Since the first physician was not able to answer all the insurer's questions, they will probably request Bob a second visit to another physician without any cost for Bob. The company should pay for this second opinion.
A firm has a production process in which the inputs to production are perfectly substitutable in the long run. Can you tell whether the marginal rate of technical substitution is high or low, or is further information necessary? Discuss. In this example, the marginal rate of technical substitution (MRTS) is
Answer: MRTS =1
Explanation
Since the inputs of the firm are perfectly substitute
MRTS =DC/DL
Where DC = change in capital
= change labour
This means that the graph of labour on x axis and capital on y axis is a straight line graph
Which NIMS Management Characteristic helps to eliminate confusion caused by conflicting instructions? A. Chain of Command and Unity of Command.B. Management by Objectives.C. Accountability.D. Information and Intelligence Management
Answer: Option A
Explanation: In simple words, chain command refers to the hierarchy of authority established in the organisation so that there will be clear line of instructions in the company.
Such chain involves executive managers on top levels while the janitor on the lower level. It also establishes the flow of communication that will run in the organisation whether vertical or horizontal.
Hence we can conclude that the correct option is A.
A process is measuring the number of returns per 100 receipts at a local retail store. The number of returns were 10, 9, 11, 7, 3, 12, 8, 4, 6, 11. Find the standard deviation of this sampling distribution.
Answer:
The standard deviation of this sampling distribution is 3.07
Explanation:
There are n = 10 samples
Mean: [tex]\frac{\sum x_{i}}{n}[/tex] = (10 + 9 + 11 + 7 + 3 + 12 + 8 + 4 + 6 + 11) / 10 = 8.1
Variance: s^2 = [tex]\frac{\sum {(x_{i} - mean)^{2}}}{n-1}[/tex]
= [(10 - 8.1)^2 + (9 - 8.1)^2 + (11 - 8.1)^2 + (7 - 8.1)^2+ (3 - 8.1)^2+ (12 - 8.1)^2] + (8 - 8.1)^2+ (4 - 8.1)^2+ (6 - 8.1)^2+ (11 - 8.1)^2] / 9
= 9.43
Standard deviation: s = [tex]\sqrt{s^2}[/tex] = [tex]\sqrt{9.43}[/tex] = 3.07
Consider an oligopoly industry whose firms have identical demand and cost conditions. If the firms decide to collude, then they will want to collectively produce the amount of output that would be produced by:______
a. A monopolistic competitor.
b. A pure competitor.
c. A pure monopolist.
d. None of the above.
Answer:
The correct answer is C. A pure monopolist.
Explanation:
The pure monopoly arises when there is a total absence of competition, due to independent entry barriers to the company's competitive capacity.
A single company offers a product that has homogeneous characteristics, which has no substitutes and for that reason has a large number of buyers. There are also economic, technological or legal barriers that prevent the entry of potential competitors. That is, there are barriers to entry.
Which of the following pairs are characteristics of price-takers?
A. Cost-plus pricing and less competition
B. Cost-plus pricing and lack of product uniqueness
C. Target costing and heavy competition
D. Less competition and target pricing
Answer:
C. Target costing and heavy competition
Explanation:
Muffins-2-Go buys a truck from Street Vehicles, Inc., under a contract signed by Riley, Muffins-2-Go’s president, making him personally liable if Muffins-2-Go does not pay the loan. Riley is____________.a. a guarantor.b. a surety.c. a co-surety.d. a co-creditor.
Answer:
The correct answer is a. a guarantor.
Explanation:
In the case of a new product, the person who offers / sells a product must respond to defects that are present within a minimum of 2 years, from the date on which the product is delivered. In other words, the buyer has the assurance that, for two years, he will be able to have the company's technical service, to deal with any possible damages that may arise.
In the case of new products, the company that manufactures it is the guarantor, which will be responsible for arranging or returning the money to the buyer, if the product does not respond to the provisions of the contract of sale.
To distinguish those combinations of goods and services that are affordable from those that are not, households need information on: A. household income, wealth, and product prices. B. household expectations about future income, wealth, and prices. C. household income and only the price of the good for which the choice is being made. D. household tastes and preferences.
Answer:
The answer is A, household income, wealth and product price.
Explanation:
This simply indicates that to be able to identify the combination of goods and services that are affordable from those that are not, the current household income should be considered, the wealth of the household which refers to the current amount of money in the household account and the price of the product.
Answer:A - household income, wealth, and product prices.
Explanation:Every household has a need and those needs has a high degree of being met. For those needs to be met, every household needs to distinguish the combination of the type of goods and services that will satisfy there needs.
After distinguishing these needs, the total house hold income, the prices of the goods and services they need and how wealthy they are is very important for them to make a good decision.
The type of goods and services is now subject to how affordable they are and how the household income and wealth can sustain them. The prices of these goods and services will also be noted.
Happy Valley, Inc. has received an invoice for $6,500 with terms of 3/15, n/45 and uses the net method to record purchases. If Happy Valley pays the invoice on the seventeenth day, Accounts Payable will be:_________.
Answer:
$6,500
Explanation:
In these cases, the fraction 3/15 represents that 3% discount will be offered on payment if the payment is made within 15 days.
The fraction n/45 represents the total credit period allowed for this purchase is 45 days.
So if a person makes the payment beyond 15 days there will be no discount offered and accordingly, the purchase price will be paid.
Here, Happy Valley also paid after 15 days, that is on 17th day. Thus, net purchase will be $6,500 and no discount shall be recorded on such payment, or recording the purchase value.
Based on the method used to record purchases and the discount involved, the Accounts Payable for Happy Valley Inc. would be $6,500.
The terms 3/15, n/45 mean that Happy Valley would get a 3% discount if they pay within 15 days, otherwise they would have to pay in 45 days.
Happy Valley paid in 17 days which was outside the discount period so they will not get any discount and will pay the full $6,500.
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Factors that influence global climate patterns include all of the following except _________.
Answer:
Deep ocean currents
Explanation:
Deep ocean currents do not affect global climate patterns. Deep ocean currents are driven by thickness and temperature inclinations. Since the development of profound water in sea bowls is mainly caused by thickness driven powers and gravity, Deep Ocean currents into deep sea plates at high scopes where the temperatures are sufficiently cold to make the thickness increment.
For featuring Lego Sets prominently in its store window, Toy Emporium, a store that carries educational toys, received a free motorized Ferris Lego Wheel kit, valued at $150. This is an example of a:Forward dating.Seasonal discount.Cash discount.Promotional allowance.Rebate.
Answer:
Promotional allowance
Explanation:
Promotional allowance is a discount on aproduct or any compensation given by suppliers to trade partners in order to carry out more promotions of their products.
Seasonal discounts are usually given on seasonal goods to encourage buyers to purchase the product in off peak periods.
Cash discount is usually given for prompt payment.
Rebate is when a part of an amount paid is returned to a customer.
I hope my answer helps you.
Toy Emporium's receipt of a free motorized Ferris Lego Wheel kit for featuring Lego Sets is an example of a promotional allowance, a common incentive in retail to promote specific products.
Explanation:When Toy Emporium featured Lego Sets in its store window and received a free motorized Ferris Lego Wheel kit, this is an example of a promotional allowance. A promotional allowance is a discount or deal offered to a retailer or distributor as an incentive to market or promote a manufacturer's products. This could come in the form of free merchandise, such as the motorized Ferris Lego Wheel kit Toy Emporium received, which is valued at $150.
During a recent brainstorming session, one of Franklin's co-workers suggested that their company could sell some of the data contained in its customer databases to earn extra revenue for the business. As a long-time member of the ACM (Association for Computing Machinery), Franklin is opposed to the idea because it violates which of the following imperatives in the ACM code of ethics?A. Be honest and trustworthy
B. Respect the Privacy of others
C. Honor property rights
D. Avoid harm to others
Answer:
B. Respect the privacy of others
Explanation:
Like in many other data privacy dilemmas, it is often considered highly unethical to give your customer's data to third parties. Having that in mind, it is a privacy breach to sell customer data.
The customers would have to give their consent in order to have their data used for purposes other than those that brought their data to Franklin's company in the first place.
Co-marketing refers to _____.
a. a project in which clients pay contractors to market and distribute the product/service
b. selling the rights to intellectual property to another firm for a royalty fee
c. outsourcing agreements in marketing between firms
d. efforts among a number of firms to jointly market their products and services
Answer: Option D
Explanation: In simple words, co- marketing refers to the process in which two firms of an industry, who serves the same audience, combines ther resources for increasing their scale of operations with the ultimate goal of increasing profits.
Generally such arrangements do not happen between two major competitors in an industry. This is more common in international businesses where one firm has technology and other has customer base.
Hence from the above we can conclude that the correct option is D .
Co-marketing refers to efforts among several firms to jointly market their products and services. The process allows firms to pool their resources and leverage each other's strengths to increase sales, enhance product utility, and expand their customer base.
Explanation:Co-marketing is defined as efforts among a number of firms to jointly market their products and services. This suggests that answer option d is the way co-marketing is defined. The process of co-marketing allows these firms to pool their resources, thereby leveraging the strengths and capabilities of each other, with the goal of expanding their customer base, enhancing product utility and driving sales growth. Example of co-marketing can be a software company joining forces with a hardware manufacturer to provide a combined product to consumers. It's a win-win strategy where brands complement each other to reach a broader audience.
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Which one of the following is not a method used by companies to accelerate cash receipts? Offering discounts for early payment Accepting national credit cards for customer purchases Writing off receivables Selling receivables to a factor
Answer:
Writing off receivables
Explanation:.
Receivables represent the amount of money that the company can collect from its debtors. Writing of receivables means that the company is not able to collect its debt, and therefore will consider them as bad debt or uncollectible debt for tax purposes.
For the past twenty years, Curtis purchased its jewelry-cleaning kit components from Evans' Suppliers, a local company that recently went out of business. As a re-cent hire to Curtis, you are excited about the opportunity to search for suppliers using modern tools that will allow you to search throughout the country and even outside it for the best ven-dors. First Steps What should be your first step?
Answer:
Explore the priorities within your own company, and find out what the Curtis stakeholders, e.g., manufacturing, marketing, need from avendor. You decided that your first step should be to explore the needs within your own company. This was the best choice. You would need toknow what the priorities and needs for Curtis stakeholders are before you can begin to evaluate vendors.
Rita has just received a major order from Northrop Corporation for her firm's hydraulic lift equipment. After reviewing the order information, Rita willA. send an acknowledgment that the order has been received.B. proceed to vendor analysis.C. submit a competitive bid.D. rewrite her firm's proposal.E. evaluate performance.
Answer:
A) send an acknowledgment that the order has been received.
Explanation:
Under UCC rules, contracts for the sale of products or services worth $500 or more have to be in writing and signed. Instead of a signed contract, a company can accept a written offer (e.g. by email), but it should send a written acknowledgment that the order has been received and accepted (or rejected). This way, both parties have a duty to perform.
In the financial statement audit of a nonpublic company, the auditor decides to perform tests of the controls related to the occurrence of sales transactions. Which of the following best explains why the auditor decided to test these controls?(1) In a nonissuer financial statement audit, the auditor is required to test the operating effectiveness of internal controls.(2) The auditor wants to obtain an understanding of the design of the internal controls.(3) Control risk is assessed at below the maximum.(4) The auditor wants to obtain an understanding of the implementation of the internal controls.
Answer:
3) Control risk is assessed at below the maximum.
Explanation:
When the control risks are assessed at below the maximum it means that the controls are effective regarding the prevention and detection of misstatements in the financial statements.
So if the auditor wants to test the controls, it means that he/she wants to verify the operating effectiveness of the controls.
In other words, apparently the controls show that there are no misstatements regarding the sales transactions, so the auditor wants to check how efficient the controls are.
Productive inefficiency could arise from a. a waste of available labor b. a lack of resources c. an improvement in technology d. a movement along the production possibilities frontier e. too many goods being produced by the country or firm
Answer:
The correct answer is a. a waste of available labor.
Explanation:
Productive efficiency (also known as technical efficiency) occurs when the economy is using all its resources efficiently, producing maximum production with minimum resources. The concept is illustrated in the Production Opportunity Frontier (FPP) in which all points of the curve are the points of maximum productive efficiency (that is, no more products can be achieved from the present resources).
This happens when the production of an economic good is achieved at the lowest possible cost, given the production of another good (s). In other words, when it is achieved, given the need to produce other goods, the highest possible productivity of a good. In a situation of long-term equilibrium for markets in perfect competition, it is where the average cost is the base on the average of the total cost curve, that is, the cost curve where CM = A (T) C.
Productive efficiency relates to the maximal utilization of resources to produce goods or services without the ability to increase production of one good without reducing another. Inefficiency arises from factors like waste of labor or lack of resources, whereas improvements in technology or movements along the PPF enhance efficiency.
Explanation:Productive efficiency refers to a situation where, given the current inputs and technology, producing more of one good would lead to producing less of another. This concept is visualized with the help of a Production Possibilities Frontier (PPF), which illustrates the trade-offs between two goods or services that an economy can produce. Points on the PPF, such as A, B, C, D, and F in Figure 2.4, represent productive efficiency because they indicate the maximum possible production given the available resources.
Productive inefficiency occurs when the economy is operating inside the PPF. This indicates that the economy could produce more of one or both goods without any trade-offs, meaning not all resources are being used efficiently. Examples of sources of productive inefficiency include a waste of available labor (which means labor resources are not being used to their full potential), a lack of resources (which could prevent the firm from operating at full capacity), and systemic issues like poor management or inadequate infrastructure.
It's important to note that an improvement in technology or a movement along the PPF would not be causes of productive inefficiency; instead, these are factors that can lead to greater efficiency or a redefinition of the production capabilities of an economy. Similarly, producing too many goods generally does not indicate inefficiency, unless it leads to waste due to goods not being consumed or ineffective allocation of resources.
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_ are intangible benefits of information systems. A. Increased productivity, reduced workforce, and increased job satisfaction B. Lower operational costs, improved resource control, and more information C. Improved asset utilization, increased organizational learning, and improved operations D. Reduced workforce, lower outside vendor costs, and increased productivity
Answer: Option C
Explanation: In simple words, information systems refers to the systems that are used by organisations for collecting, processing, storing and distributing information.
These systems are usually made of four major components task people, technology and structure. These systems are of high importance as they process and analyze the input data of the organisation and convert it into relevant information.
The accurateness of such systems depends on the level of input.
Lemon N' Honey is a juice manufacturing company in the United States. It exports its products to Australia, licenses to China, has a joint ownership venture in France, and owns a subsidiary in Brazil. The firm will most likely need to create a(n) ________ to handle all its worldwide activities.
a. export departmentb. international divisionc. value delivery networkd. domestic divisione. domestic market
Answer:
international division
Explanation:
In a functional organization structure, a company is divided into small units based on the roles they perform. For example, a company may have marketing, finance, It and human resources division. The divisions may also be referred to as departments.
Divisions allow for more efficiency as employees with shared skills and knowledge are put together to perform familiar tasks. By creating an international division, Lenon N' Honey will be able to assign specialized employees the duty of in managing its foreign business. The international division will focus on ensuring that the overseas operations are achieving their objectives.