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Industrialization.
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What is the process of developing machine production of goods?
Industrialization.
What are 4 factors of productions?
human capital capital goods entreprenuership natural resources
What is a tool or machine that a company can use to produce goods and services?
capital goods
What can cause shortages or surpluses of goods and services?
over production can lead to a surplus of goods and/or services, and shortages can occur when demand for a product exceeds the productions of said product
The change from handmade goods to goods made by machine has become known as the?
industrial revolution
What is the journal entry to move finished goods from Work In Process to Finished Goods Inventory?
[Debit] Finished Goods [Credit] Work in process
How do developing countries maintain an advantage over developing coutries in the international trade?
They maintain high tariffs on the agricultural goods that many developing countries export.
What effect did new machine have on Americans?
Goods made by machine were more quickly and more cheaply.
What is factor of productions?
Factors of production refers to the inputs of the production process.Factors of productions are resources that produce goods and services.There are four categories of factors of production:Land: Natural Resources that we use to produce goods and services such as oil, gas and goal, water, etc.Labor: the work time and work effort that people devote to producing goods and services. This includes human capitalwhich is the quality of the labor forming from knowledge and skills of the person obtained from education, on-the-job training and work experience.Capital: the tools, instruments, machine, buildings and other items that are used to produce goods and services. This includes machinery, hammers, etc.Entrepreneurship: the human resource that organizes labor land and capital. This includes the idea, plan, etc about how and what to produce.
The increase in output of machine made goods that began in england?
Industrial Revolution. Refers to the greatly increased output of machine-made goods that began in England in the middle 1700s.
How can I process payments using a credit card POS machine?
To process payments using a credit card POS machine, you need to follow these steps: Enter the purchase amount on the POS machine. Swipe or insert the customer's credit card into the machine. Wait for the transaction to be authorized by the card issuer. Ask the customer to sign the receipt or enter their PIN. Print or email the receipt for the customer. Complete the transaction and provide the customer with their goods or services.
Tool or machine that a company can use to produce goods and services?
Capital goods/ Capital resource.
