A) List and explain the three reasons Adam Smith said productivity increases with specialization. Who was Adam Smith? a. Adam Smith is writer. He wrote a book titled “An Inquiry into the Nature and Causes of the Wealth of Nations.”+ b. Three Reasons i) Repetition • The more times that an employee performs a task‚ the more capable the employee are at the task. ii) Continuity • A specialized employee doesn’t spend time exchange from one task to another. iii) Innovation • A specialized employee
Premium Supply and demand
some private schools experience enrollment growth and why others decline? If you were developing a theory of school growth‚ what would you propose as the most important factors that influence enrollment growth? Based on my experiences in working with private‚ Christian and independent schools throughout the country‚ I believe that there are multiple factors that contribute to enrollment growth and decline at a school. Let me highlight some of these factors for you: Leadership – The vision‚ drive
Premium Teacher Independent school Public school
Economies of scale Definition Reduction in long-run average and marginal costs‚ due to increase in size of an operating unit (a factory or plant‚ for example). Economics of scale can be internal to a firm (cost reduction due to technological and management factors) or external (cost reduction due to the effect of technology in an industry). Diseconomies of scale Definition Increase in long-term average cost of production as the scale of operations increases beyond a certain level
Premium Economics of production Microeconomics Cost
Examine the key factors influencing inclusive teaching and learning Inclusive teaching means recognising‚ accommodating and meeting the learning needs of all students‚ regardless of age‚ gender‚ ethnicity‚ religion‚ disability or sexual orientation. This starts with acknowledging that students are members of diverse communities‚ have a range of individual learning needs‚ and deserve equal opportunity to access the learning experience. Applying inclusive learning is increasingly important in our
Premium Education Educational psychology Learning styles
fact that small business has become a crucial part of the business environment of any country. What is the small business? A small business is owned and operated privately‚ and it has a few employees and a small volume of sales. Depending on the countries and industry‚ the legal definition of "small" is usually different. In Australia‚ “a small business is defined by the Fair Work Act 2009 as one with fewer than 15 employees”( Fair Work Act 2009). Even thought individual small business only creates
Premium Inflation Robert Mugabe
Nutritional Factors that Influence Microbial Growth To live/reproduce‚ all living things need: An energy source A source of Carbon Food Sunlight – phototroph Iron etc- chemotroph If reduced form of chemical‚ organism can use it as energy Organic-chemoorganotroph Inorganic – chemolithotroph Organic cmpds- heterotroph CO2- autotrophs Nitrogen fixation- make into organic form that humans can use N is often a limiting nutrient in the environment Meaning
Premium Bacteria
“I’ve got a small business with only 3 full-time staff. Marketing Planning’s no real practical use to me! Besides‚ I can’t afford the time and/or the money to do it” The writing of a marketing plan is extremely important step in the functioning of an effective and successful business. A marketing plan will give a snapshot of where the business currently stands‚ where the business hopes and wants to be and what needs to be done to achieve this. This is crucial if the business wants to grow
Premium Small business Management Business
INTRODUCTION In this report I will be further discussing about the market research of Sandwich Delight in Detail. I will be analysing the data I obtained from both primary and secondary researches to discuss about the demands for my business and whether my chosen business will succeed in future. I will be also looking at the appropriateness of the research methods and the sampling methods. Analysis of questionnaire (primary research) As part of my market research for the Sandwich Delight I used different
Premium Customer service Food Marketing
Analyze the factors influencing chief executives when making appointments The appointment of Justice Earl Warren was "the biggest damn fool mistake I ever made" according to President Eisenhower. Clearly then‚ appointments made by the Chief Executive are of upmost importance. There are however‚ a number of different factors‚ such as ideology‚ re-election and leadership style that impact on how the Chief Executive makes these appointments. However‚ with government become more personal‚ with Special
Premium President of the United States
Economies of scale The long run – increases in scale A firm’s efficiency is affected by its size. Large firms are often more efficient than small ones because they can gain from economies of scale‚ but firms can become too large and suffer from diseconomies of scale. As a firm expands its scale of operations‚ it is said to move into its long run. The benefits arising from expansion depend upon the effect of expansion on productive efficiency‚ which can be assessed by looking at changes in average
Premium Economics Average cost Cost