INDIVIDUAL ASSIGNMENT Q1. What is meant by the term resources? What are the four factors of production and explain the factors incomes associated with each factor of production (20 marks) a) Resources means being able to produce something that can be a good or service. For e.g. the sun‚ trees‚ natural gas‚ materials‚ staff. b) The four factors of production are land‚ labor‚ capital and entrepreneurship. (i) Land- is considered the natural resources or raw materials we find on the earths surface
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tell you why Justin Bieber should be placed in room 101. I appreciate that some people will completely disagree with my viewpoint. Some may say that he is the perfect teen-idol‚ influencing and encouraging other young musicians to follow and achieve their dreams. Others may say that he is a terrifically talented artist producing popular and ‘catchy’ songs as well as being a good-looking individual. However‚ 64% of the british population‚ excluding young screaming girls‚ dislike Justin Bieber for many
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Brand new Prime Minister of Canada‚ Justin Trudeau‚ announced on November 17‚ 2015‚ that Canada would send more ground troops to Iraq. These troops would be special forces trainers who would develop the Iraqi military to combat ISIS on the ground. In 2014‚ during Conservative Stephen Harper’s term‚ the Canadian government sent only 69 special forces trainers to Iraq in order to train the Kurdish forces and the Iraqi military. It was blatantly obvious on the world stage that Canada was putting
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and certifications are recognised globally‚ thus opening slots for graduates worldwide. In addition‚ it is a safe country‚ politically stable and has a tradition of inclusion and diversity. In fact‚ I consider Honorable Prime Minister of Canada Mr. Justin Trudeau as my role model because of his views on multiculturalism‚ equality and peace. After learning about Canada‚ my family got a sense of safety and positivity and they are enthusiastically supporting me in this decision. The world acknowledges
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Economics‚ Case No. 8 THE PRODUCTION FUNCTION AT TOYOTA Throughout most of the 20th century‚ business in the United States‚ especially in manufacturing‚ was dominated by the paradigms of mass production and scientific management. The focus was primarily on finding ways to produce at lower unit costs without much overt concern about quality and consumer satisfaction. Now‚ a new view of the productive enterprise has emerged. The new view focuses more on quality and customer satisfaction as the driving
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BURGER KING VIEWPOINT This case was analyzed from the point of view of Burger King’s Marketing Manager. TIME CONTEXT The case happened in September of the 2010. STATEMENT OF THE PROBLEM • How to minimize the negative feedback/perception of the company’s buy-in from a private company? • What measures could Burger King do to dethrone McDonald’s as well as hold off the challenge of a number of other chains that were growing in size and competitive power? STATEMENT OF THE OBJECTIVES
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* CASE STUDY * PLANT LOCATION PROBLEMS * During 1970 government of india decided to expand the steel production under public sector units (psu). Three locations were selected to set up the plant. 1. Vijayanagar steel plant in bellary Karnataka. 2. Salam steel plant in TN. 3. Vizag steel plant in AP. * A panel of eminent personalities was formed to analyze the locations. * The important raw materials for steel are : 1. Iron ore : should contain atleast 60% of
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dorm and need to hire some help. The moving company has given you the following production table. Number of Workers Total Product of Labor Average Production Level (per hour) (boxes per hour) 0 0 1 20 2 46 3 66 4 80 5 85 Marginal Production Level Complete the table and determine the most efficient number of movers to hire. Explain. (Be sure to discuss average production and marginal production levels.) Does the production function in the table exhibit diminishing marginal returns? Explain what you
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than 90 percent of the fair market value of the asset at the beginning of the lease. The lessee will pay the full amount of the asset to the lessor without dependency on the residual value of the asset (Schroeder‚ Clark‚ & Cathey‚ 2005). In the case of an operating lease this is simply a rental agreement and should be accounted for in the same manner as any other lease. Rent payments are to be charged as an expense as they will be payable over the life of the lease. A sales-type lease is present
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INTRODUCTION OF THE PROJECT: The work done in SIP was related to Production planning and control and was also related to reduction in manufacturing throughput time for a special purpose machine MD-1985(H50). Planning and control is used to make decisions on the procurement‚allocation and utilization of production resources to satisfy customer’s requirements from the machine . The ultimate objective of production planning and control is to contribute to the profits of the company. As with
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