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How did the factors of production help European governments to establish industry?
How did the factors of production help european governments to establish industry?
Define optimal efficiency How is optimal efficiency achieved in production?
Optimal efficiency is a term used to describe the condition when a production is producing the best it can with what it has at the lowest cost possible. It is achieved in production by taking all of the production's waste product and dividing the waste product by the overhead costs. A sum of zero is the optimal efficiency.
Importance of mobility of factors of production?
emphasise on efficiency of production in a firm
What decisions affect production efficiency?
All four of the decisions must be made: What goods will be produced?How will production occur?How much should be produced?Who will be the recipients?All are decisions that influence production efficiency.
What is the difference between service and production industries?
What could be seen as the difference is that the service industries are respondsible for d production of services for human both tangible and intangible service while production industries are responsible for invention of both goods and services to satisfy human unlimited wants
Many industries of the 1920s improved the efficiency of production by adopting what?
Mass production methods that lowered their cost.
War Industries Board?
Encouraged companies to use mass production techniques to increase efficiency
What is the definition of industialization?
Industrialization is the process by which an economy shifts its primary focus from agriculture to manufacturing and other industries. It involves the widespread adoption of machinery, technology, and mass production methods to increase efficiency and output in the production of goods.
What was an effect for waterwheel?
One effect of the waterwheel was the increased mechanization of different industries such as milling, mining, and textile production. This led to greater efficiency in production processes and helped drive economic growth during the Industrial Revolution.
How did the factors of production help European governments to establish industry?
How did the factors of production help european governments to establish industry?
Define optimal efficiency How is optimal efficiency achieved in production?
Optimal efficiency is a term used to describe the condition when a production is producing the best it can with what it has at the lowest cost possible. It is achieved in production by taking all of the production's waste product and dividing the waste product by the overhead costs. A sum of zero is the optimal efficiency.
Which industries can production supervisor jobs be commonly found in?
The industries that commonly have production supervisor jobs are mainly manufacturing industries. Some of the examples are Industrial Steel Fabrication/Welding and Technicians.
Importance of mobility of factors of production?
emphasise on efficiency of production in a firm
What three types of primary industries are involved in the production of a pair of skates?
What three types of manufacturing industries are involved in the production of a pair of skates
Did president Wilson establish the war industries board in orde to regulate labor relations in industries involved in war production?
coordinate industrial production
What are base chemicals?
chemical based industries is industries that use chemical to production of goods are called chemical based industries
What method of manufactured solutions do you recommend for optimizing production efficiency?
One recommended method for optimizing production efficiency is implementing lean manufacturing principles. This involves identifying and eliminating waste in the production process to streamline operations and improve overall efficiency.
