make-to-stock type of firm invests in lean manufacturing programs in order to improve customer service levels for a given inventory investment.
A concept known as "lean manufacturing" aims to increase productivity while eliminating waste in industrial systems. Anything that buyers do not think adds value to and are not prepared to pay for is considered waste. Lean manufacturing has many advantages, some of which include shorter lead times, lower operational expenses, and better product quality.
Organizations from a variety of industries can enable the practice of lean manufacturing, commonly referred to as lean production or lean. Toyota, Intel, John Deere, Nike, and other well-known corporations all employ lean techniques. The strategy is still employed by numerous other businesses and is based on the Toyota Production System. A lean production system might be advantageous for businesses that use enterprise resource planning (ERP).
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this time period was characterized by the automation of routine tasks like processing payroll, welding car parts together, or sending invoices to customers.
The period described is characterized by the robotization of routine tasks in the plant. This trend towards robotization has been driven by the desire of associations to ameliorate effectiveness and reduce costs.
By automating tasks similar as recycling payroll, welding auto corridor together, and transferring checks to guests, associations have been suitable to significantly increase productivity and reduce the need for homemade labor in these areas. The trend towards robotization is likely to continue as technology continues to advance and associations seek to stay competitive in a fleetly changing business.
The robotization of routine tasks has led to both benefits and challenges for associations, including bettered effectiveness , but also the need for workers to acquire new skills and acclimatize to new ways of working.
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How does cost-benefit analysis help make economic decisions?
A cost-benefit analysis enables a person or organisation to examine a choice or proposed project without prejudice and helps in economic decisions.
An intervention's costs and benefits, both of which are stated in monetary terms, can be compared using a cost-benefit analysis. Health outcomes are a part of cost-benefit analysis (CBA) and cost-effectiveness analysis (CEA). The results of a cost-benefit analysis will display the net benefit—i.e., benefits after costs of a project choice. As an illustration, let's say that it will cost $100,000 to build a new product with estimated sales of $100,000 per unit. Consequently, 200,000 benefits were sold. Cost-benefit analysis, often known as benefit-cost analysis or CBA, is a methodical method for determining the advantages and disadvantages of potential solutions. It is used to identify solutions that offer the most effective method of attaining benefits while conserving savings in things like transactions, activities, and functional business needs.
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Describe how the distribution of your monthly payment towards the principal and interest changes over time for a mortgage
Over the long run, as you pay down the head, you owe less interest every month, because your credit balance is lower. In this way, a greater amount of your regularly scheduled installment goes to settle the head.
Close to the furthest limit of the credit, you owe considerably less interest, and the greater part of your installment goes to take care of the remainder of the head.
A home loan installment is ordinarily comprised of four parts: head, interest, expenses, and protection. The Chief part is the sum that squares away your exceptional credit sum. Premium is the expense of getting cash.
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Interview a local buine owner. Find out what he or he feel about government regulation that affect hi or her buine. Ak how the buine owner would change government policie and program
The state or region's growth can be promoted entrepreneur by the government through economic development initiatives.
Numerous laws and regulations are created by governments to direct corporations. Taxes, trade, subsidies, regulations, interest rates, licencing, and other policies can all change as a result of changes in fiscal policy, which the government can implement. To adapt to shifting laws and regulations, businesses should be adaptable.
Governments can enact tariffs, which increase taxes to imported goods, or subsidies, which raise prices and make native goods more appealing by taxing the general public and transferring the money to an industry. Increased levies, fees, and regulations can cripple businesses or entire industries.
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Is food and clothing a fixed expense?.
Answer:
No I do not think so.
Explanation:
Ivan has inherited his mother's 1963 Chevrolet Corvette, which hevalues at $45,000. He decides that he might be willing to sell it so heposts it on Craigslist for $55,000. Samantha is interested and willing to pay up to $72,000
27000$ is Economic surplus of Samantha .
What does the term "economic surplus" mean?
Economic surplus, often known as "total welfare," is the collective advantage that results from the individual gains that a consumer or producer makes as a result of an economic activity.
The terms "total surplus" and "community surplus" may also be used to describe it.
Ivan and Samantha will be voluntarily involved in trade as they both are benefitting in their own ways and reasons. Ivan is getting more money than what he is expecting which is a producer surplus for him. Samantha is paying less that what she is willing to pay ,so there is consumer surplus. Hence both are benefitting from the transaction.
Producer surplus to Ivan = Amount received - willing to sell amount = 55000-45000 = 10000
Consumer surplus to Samantha = willing to pay - Actual amount paid = 72000 - 55000 = 17000
Economic surplus = Consumer + Producer surplus = 10000+17000 = 27000$
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Is net income more or less than gross?.
Gross income is higher than net income
gross income includes total revenue or income, whereas net income refers to net profits after all expenses taxes, and deductions are taken out. Your personal net income is typically your take-home pay
formula for net income: Net Income = Total Revenue — Total Expenses.
To calculate net income take your gross income and subtract all of your business expenses—marketing or advertising costs, travel or office expenses tax payments,etc. —as well as any deductions you may be eligible for such as a home office space retirement plan, or legal and professional fees.
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Autocratic managers tend not to _____.
Answer:
Autocratic managers don't entertain any suggestions or consider initiatives from subordinates. This style of management is effective for quick decision making but is generally not successful in fostering employee engagement or maintaining worker satisfaction.
Explanation:
Who pays additional Medicare tax?.
The employer pays additional Medicare Tax to the employee in form of wages.
Anytime a business pays an employee more than $200,000 in wages or railroad retirement benefits in a calendar year, regardless of the employee's filing status, they are required to deduct the Additional Medicare Tax.
A component of the Medicare insurance program is paid for by a federal employment tax known as the "Medicare tax," often known as the "hospital insurance tax." In a similar manner to Social Security tax, Medicare tax is deducted from an employee's wages or paid as a self-employment tax. The U.S. Treasury manages trust funds that include taxes for Medicare and Social Security. Medicare Part A costs are covered by Medicare tax, which is held in the Hospital Insurance Trust Fund.
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The invisible hand ensures that economic prosperity is distributed equally. a. True b. False
True : The invisible hand ensures that economic prosperity is distributed fairly.
What is Invisible Hand in Business ?The invisible hand ensures equitable economic success. A "market failure" occurs when the market fails to distribute resources in an efficient manner. Productivity is defined as the amount of goods and services produced per unit of labour input. Inflation raises the value of money.
Through a network of interconnectedness, the metaphor of the invisible hand describes how self-interested people behave in a free market economy. Because of this dependency, producers are encouraged to produce what is socially necessary, even if they are only concerned with their own personal well-being.
The invisible hand theory contends that if everyone in the system acts in their own best self-interest, the outcome will be in the best interests of the economy without any outside intervention. The results will always be superior to those of a centrally planned and governed economy.
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are costs that remain the same no matter how much of the product or service you provide.
Fixed costs are costs that remain the same no matter how much of the product or service you provide.
Fixed costs are the expenses that don't change regardless of how much of a good or service a business typically offers. Rent, salary, and insurance are examples of costs that are borne independently of the volume of output or sales. They are sometimes referred to as overhead expenses.
Variable expenses, such as direct materials or direct labor, which fluctuate according to the volume of production or sales, are contrasted with fixed costs. The variable costs rise along with the level of output or sales, whereas the fixed costs stay the same. These costs are unaffected by variations in output and are constant regardless of the volume of production or sales.
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Which stakeholder is responsible for assigning supervisors to approve t&a?
Manager is the stakeholder that responsible for assigning supervisors to approve t&a. It have to be done by manager because the main role of manager is for planning and evaluating department activities.
In business organization, A manager generally can be defined as a person who manages a team of employees in an organization by structural. In the structural organization or company, managers has a function to get the work done from the employees and make sure the decorum of the organization is maintained. A better communication between employees and top structural management also can be build by a bridge that build by manager,
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What does the government do in a mixed market economy?.
A mixed economy often combines a robust governmental sector with the characteristics of a market-based economy.
Government involvement in managing the use of certain resources and the ability to exercise control over private sector enterprises make mixed economic systems different from laissez-faire systems. The private sector may be taxed by governments in an effort to redistribute wealth, and they may also use tax revenue to further social goals.
Government involvement in mixed economies often takes the form of protective tariffs, tax rebates, specific credits, monetary stimulus, and public-private partnerships. These inevitably cause economic distortions, but they serve as tools to accomplish particular objectives that could be successful despite the distortion they cause.
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compared to north american ranchers, commercial ranchers in the pampas of argentina, uruguay, and southern brazil are more likely to
Compared to north American ranchers, commercial ranchers in the pampas of Argentina, Uruguay, and southern brazil are more likely to raise livestock primarily for export.
The commercial ranchers of Argentina mostly raise livestock in which they could export them to other countries in contrasts to the ranchers from the North America. In addition, it has been one of the primary industries of Argentina and one of its well known goods from these ranches is the corned beef. Abundant water is essential for lowland rice production in Argentina. Shifting cultivation and nomadic herding are two agricultural types that occupies largest percentage of the Argentina's total land area.
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What are the 5 factors of production and their functions?.
The five factors of production is labor, land, human capital, physical capital and entrepreneurship.
The human capital is reflected to the skills, knowledge and having experience in the particular field or expertise. The human capital can contribute their knowledge, skills and decision making skills to the growth of the organization.
The physical capital it is factor of production which can used to production goods or services. The land in the production preforms the most important part in the production.
The labor has the important function, it supplies the expertise, manpower and service needed to turn raw materials into the final goods or services. The entrepreneurship is the activity of thinking about the ideas turn into the action which result in the products or services.
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How do advertisements influence consumers?.
Advertisements works by creating a pat-tern of associations that elicit an emo-tional connect-ion or response in the intend-ed audience, ultimately influe-ncing the consumer's pur-chasing decisions, often in an uncon-scious way.
Advertisements Influences Consumer Beha-vior - At its core, the influ-ence of advert-ising in every-day life is the po-wer to alter what con-sumers think and feel. A success-ful ad culti-vates desire within the view-er and makes her want to buy a pro-duct while minimizing any do-ubts she has ab-out the product.
Advertising can incr-ease sales by tell-ing potential and current cust-omers about your new product laun-ches, special offers and improve-ments.
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is an extra percentage a lender charges you on an amount you borrow from the lender.
Interest is an extra percentage a lender charges you on an amount you borrow from the lender.
Interest is one of the things you will need to consider when making the decision. It is an extra percentage that the lender charges you in addition to the amount you borrow.
Knowing the interest rate on a loan can help you determine how much your loan will cost you in the long run.
The interest rate charged on loans and other forms of credit can have a significant impact on a business’s bottom line. Business owners should be aware of current interest rates and understand how to use them to their advantage.
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it is the function of the ______ to take the strategic plan and develop actionable short-term goals that a business can achieve.
It is the function of the operating plan to take the strategic plan and develop actionable short-term goals that a business can achieve.
Operational plans are not just for huge endeavors — independent ventures and people also can profit from functional preparation. As indicated by College Lab Accomplices, an absence of arranging is one of the top reasons that new businesses fall flat. Likewise, an overview by Gallup found that main about portion of representatives realize what is generally anticipated from them at work. Without a hearty functional arrangement set up, associations are gambling losing their best specialists and their business achievement. A functional arrangement frames the critical targets and objectives of an association and how to contact them.
A very much created record guarantees colleagues know their obligations and have a reasonable comprehension of what should be finished.
Creating a functional arrangement keeps groups on target while directing them in settling on significant conclusions about the organization's drawn out system.
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Complete Question -
It is the function of the _____ to take the strategic plan and develop actionable short-term goals that a business can achieve.
A. tactical plan
B. mission statement
C. vision statement
D. operating plan
what are common work contexts for Nursery and Greenhouse Managers? Check all that apply.
exposed to disease or infections
exposed to high places
outdoors, exposed to weather
freedom to make decisions
responsible for others’ health and safety
deal with physically aggressive people
The common work contexts for Nursery and Greenhouse Managers are
exposed to disease or infectionsoutdoors, exposed to weatherresponsible for others’ health and safetyWhat is a manager?A manager is a person who oversees a task and helps to allocate resources, track progress reports, and complete projects on schedule in order to accomplish the organization's objectives and vision.
The Nursery and Greenhouse Managers were tasked with concentrating on the increasing issues and finding solutions that lead them to outdoor exposure to weather which might cause infection or diseases as they are responsible for the health and saftey of people.
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New aving bank pay 4% interet on depoit. If you depoit $1000 in the bank and leave it there, will it take more or le than 25 year for your invetment to double?
It will be exactly equal to 25 years, the following is the explanation.
Given, a new savings bank pays an interest of 4%, and if I deposit $1000 in the bank, we should be found how many years the money will take to double itself.
Let's consider the unknown value, the no.of years to be represented by a variable, y.
The formula for simple interest is:
Simple Interest(S.I) = [tex]\frac{Principal Amount * No. of Years * Rate of Interest }{100}[/tex]
Since the money has to be doubled, the interest has to be twice the principal amount, that is, interest is also $1000.
Therefore,
1000 = [tex]\frac{1000 * y * 4}{100}[/tex]
=> y = 100 / 4 = 25 years
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The right way of asking the question is:
New savings banks pay 4% interest on deposits. If you deposit $1000 in the bank and leave it there, will it take more or le than 25 years for your investment to double?
Why are there many more mixed market economies than command economies in the world today?.
Today's globe has more mixed market economies than command economy because more economic systems are designed to provide producers and consumers the flexibility to make economic decisions.
As far as how economic activity is organized, market economies and command economies are the two complete opposites. Who controls the production factors and the procedures that set pricing is the main area of distinction. The goal of mixed market economies is to preserve as much economic discretion as feasible. The management and regulation of the economy are largely outside the purview of these governments.
Governments that heavily control the economy are associated with command economies, which are more concerned with maintaining and requiring equitable chances. In a market economy, activity happens at random. It is not governed by a centralized body; rather, the supply and demand for products and services decide it. As an alternative, a command economy is one in which all sources of production are controlled by a centralized government that controls most, if not all, firms.
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which financial aid program is needs-based and pays wages up to a certain number of hours?
A work-study program is a sort of financial aid program that is needs-based and provides earnings up to a set number of hours. Option B is the right answer.
The Work-Study program, formerly known as the College Work-Study Program, is a federally financed program in the United States that aids students with the costs of post-secondary education.
This is a "need-based" part-time job program that allows students to earn money to help pay for their education. The award notification amount is the maximum amount that can be earned through the FWS program.
FINANCIAL AID is money given to students to help them achieve their educational goals. Federal Student Aid is an office of the United States Department of Education that distributes financial aid to students each year through federal grants, loans, and work-study funds.
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Which of the following describes the marginal product of labour?
a.
the increase in output obtained from a one-unit increase in labour
b.
the increase in labour necessary to generate a one-unit increase in output
c.
the additional profit created with a one-unit increase in labour
d.
the additional cost created with a one-unit increase in labour
Correct answer will be option A. Marginal product of labor is the increase in output obtained from a one-unit increase in labor.
The marginal product of labor (MPL) is the transition in outcome that ultimately resulted from employing an additional unit of labor in economics. It is a characteristic of the production function and is determined by the amount of tangible capital and labor already in use. The marginal product of a production factor is usually defined as the variation in amount of variance by a unit or insignificantly small change in the amount of that factor used while going to hold all other input usages constant in the production process. The transformation in outcome (Y) per unit increase in labour is then the marginal result of labor (L).
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What are the 3 main economic systems that are used today?.
Answer:
Free market
Command
Mixed
A customer uses a store credit card to purchase a boat for $10,500. the store credit card offers an annual interest rate, compounded continuously, of 18.99% with no payments due for the first two years. if no payments are made for the two years, what will be the balance on the card, rounded to the nearest penny?
$15350.92 is the balance on the card, rounded to the nearest penny .
Continuously adding interest to the principle amount This interest rate gives a time period exponential development.
continuous compound interest rate formula;
P0 is the principal amount, r is the interest rate, and t is the time period, so P(t) = [tex]P_{0}[/tex] [tex]e^{rt}[/tex] .
Given:
A consumer spends $10,500 on a boat using a shop credit card.
The store credit card offers a continuous annual interest rate of 18.99% with no payment requirements for the first two years.
That implies,
[tex]P_{0}[/tex] equals $10,500, r is 18.99, and t is 2.
So,
P(t) = P₀[tex]e^{rt}[/tex]
By changing the values,
P(t) = (10500) [tex]e^{(0.1988)(2)}[/tex]
P(t) = (10500)(1.46199)
P(t) = 15350.917
P(t) = $15350.92
As a result, the total is $15350.92.
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Which of the following is not a feature of free enterprise?
Right to private property
Restriction on consumer's right to choose
Profit motive
Freedom of enterprise
b) Restriction on consumer's right to choose is not a feature of free enterprise.
Capitalism is also referred to as the free market. Consumer spending, company investments, and government purchases comprise a free enterprise economy. Consumers have a vital role in a free-market economy.
In a capitalist system, the customer's right to choose is unrestricted; in fact, the consumer has entire freedom to obtain the goods or service of his choosing.
The word "free enterprise" or "free market" refers to an economy in which the market, rather than the government, determines prices, products, and services.
Businesses and services are not subject to government regulation. Alternatively, free enterprise may refer to an ideological or legal system in which commercial operations are predominantly governed by private measures.
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According to O*NET, what are common work activities performed by Nursery and Greenhouse Managers? Check all that apply.
making decisions and solving problems
dealing with hazardous materials
interacting with animals
communicating with supervisors or peers
monitoring and controlling resources
climbing ladders, scaffolds, or poles
According to O*NET, common work activities performed by Nursery and Greenhouse Managers are
making decisions and solving problemsdealing with hazardous materialscommunicating with supervisors or peersWhat is a manager?A manager refers to a person who is responsible head of any project and helps in arranging the resources, checking the progress, and timely completion of it in order to achieve the vision and goal of the organization.
The Nursery and Greenhouse Managers were responsible to focus on the rising problem and resolving them by communicating with peers and subordinates which helps them to understand the root cause.
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Government involvement in a modern economy is generally defended because. the marketplace always meets the needs and wants of society's members.
Government involvement in a modern economy is generally defended because governments are more able than firms to meet some needs and wants of society
All modern economies, whether communist or entrepreneur, arranged or unplanned, have a few normal exceptional highlights.
We observe that there is minute division of work and specialization so there is co-activity and interdependence among a large group of makers and buyers in light of a perpetual chain of trades.
The town independence and separation, which characterised crude economies, have vanished. Also, there is broad utilization of plant and hardware and present day gear. Thusly, the arrangement of creation, rather than being straightforward and direct, has become circuitous and indirect. It is a constant and round process like the 'egg-chicken-egg' succession. A huge extent of the community's assets are redirected from current utilization to the creation of devices, hardware and gear. There is capital development for a huge scope making arrangement for what's to come.
One more notable element of a cutting edge economy is the broad utilization of cash. Deal, exchanges (i.e., purchasing great with merchandise) are rare. Cash is an exceptionally helpful mode of trade, and as such it works with the working of the monetary framework. Division of work would be incomprehensible without cash being accessible to work with trades. In any case, the utilization of cash additionally breeds blasts and sorrows. Consequently, while the utilization of cash is an incredible gift, it can likewise be a revile, in the event that its worth doesn't stay stable.
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why are land, capital, labor, and entrepreneurs important for a producer?
Land, capital, labor and entrepreneurs are important to a product as they are the factors of production needed to produce that product.
A factor of production is an economic term that describes the means necessary to produce goods and services. Factors of production are traditionally divided into three main groups.
Labor, capital, natural resources, and entrepreneurs join them to produce the goods and services that are put on the market.
Natural resources are used to describe all types of natural resources that exist. Resources are scarce and limited.
Capital is used almost exclusively as a term for physical capital and can be divided into fixed and variable physical capital. For example, capital includes all buildings and machinery constructed from natural resources.
Human capital or education is the knowledge and skills that can generate and drive capital or contribute to production. These terms illustrate the difficulty of precisely defining each element of production.
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Which phrase describes the substitution effect?
