0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Why are factors of production important in business?
Factors of production are important in business because managers can improve their position when they know what contributes to production. The type of machinery used in production is a factor in production.
How does a business use production?
If the business is of manufacturing based, then production is the key factor circling which the other activities rotate. Keeping the production cost most competitive vis a vis maintaining quality of the product during production stage are of paramount important in the said business.
Who own the factor of production?
Business firms own the factors of production.
How would you explain Primary Activities?
Primary Activities are the activities that has the most direct impact. They are the most important factor in production and in business.
Why is profit important to a business owner?
Profit is an important reward to business owners since in setting up and running the business the owners are taking a risk with their money. They make nothing if the business does not generate a profit. This also applies to shareholders, since they are also the owners.
Why are factors of production important in business?
Factors of production are important in business because managers can improve their position when they know what contributes to production. The type of machinery used in production is a factor in production.
How important production function to people to the bushiness world?
The production function is very important to the people in the business world. This is because all forms of business rely on production in one way or another.
What is an important business in Tajikistan?
Coal production, drugs and govt
How does a business use production?
If the business is of manufacturing based, then production is the key factor circling which the other activities rotate. Keeping the production cost most competitive vis a vis maintaining quality of the product during production stage are of paramount important in the said business.
Why is self-management important in business?
Self-management is very important in business as this is what would result into proper management of the business. It becomes easy to have high levels of production from a team of individuals who know how to manage themselves.
What is the importance of production management in business?
we can say production management is the life blood of any business,through the production business can increase its profitability and minimize its cost of production.
What was the Production Budget for The Business of Strangers?
The Production Budget for The Business of Strangers was $6,000,000.
Who own the factor of production?
Business firms own the factors of production.
Why is stock important in business?
by maintaining stock record in business Unit the following decision can be taken: - Production planning - Demand forecasting - in financial accounting - Marketing
How do you start a successful video production business?
Starting a video production business is never that easy..!Planning of course is very important.!!You must make sure that you love your business and make some research for you to become successful.video production
Why is it important for business managers to understand the information found on financial reports?
Business managers must understand financial reports so that they can correct any problems in production. If they don't understand, they could potentially lose money during production.
Why is stock record important in business?
by maintaining stock record in business Unit the following decision can be taken: - Production planning - Demand forecasting - in financial accounting - Marketing
