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What are the Objectives of new economic policies?
1.To increase the efficiency and international competitiveness of industrial production
Does an increase of economic surplus in a market always mean that economic efficiency has increased?
No. If marginal cost of production decreases but market output stays the same, economic surplus and deadweight loss both increase, causing economic efficiency to decrease.
What does the constant returns to scale graph illustrate in terms of production efficiency and output levels?
The constant returns to scale graph shows that as production increases, output levels also increase proportionally. This indicates that production efficiency remains constant as output levels grow, resulting in a linear relationship between input and output.
Division of labor results in?
The division of labor generally leads to specialization in any production line. Furthermore, division of labor increases the efficiency of production and makes the process faster.
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.
What results from the introduction of the assembly line into the production line?
B. Efficiency is increased.
War Industries Board?
Encouraged companies to use mass production techniques to increase efficiency
What typically results from the introduction of the assembly line into the production process?
B. Efficiency is increased.
What are the objectives of the news?
1.To increase the efficiency and international competitiveness of industrial production
What are the objectives of line balancing?
The objectives of line balancing are to optimize the flow of work, reduce idle time, and increase efficiency in a production line. Balancing the line helps to evenly distribute workload among workstations, minimize bottlenecks, and improve overall productivity.
What practice is associated with Fordism?
Fordism is associated with mass production methods that rely on assembly line techniques to increase efficiency and reduce costs in manufacturing processes. It also involves implementing standardized production procedures and specialization of labor to streamline production.
What are the Objectives of new economic policies?
1.To increase the efficiency and international competitiveness of industrial production
What were New Economic Policy reforms?
1.To increase the efficiency and international competitiveness of industrial production
What typically results from the introduction of the assembly line into production process?
B. Efficiency is increased.
How can an automatic feeding machine improve efficiency in a manufacturing process?
An automatic feeding machine can improve efficiency in a manufacturing process by consistently and accurately delivering materials or components to the production line, reducing the need for manual labor and minimizing errors. This can help streamline the production process, increase output, and save time and costs.
Why are hormones fed to cattle?
Hormones are fed to cattle to promote faster growth and increase meat production efficiency.
Ford's mass-production method on a moving line was called an?
The Ford method of mass production on a moving line was called the assembly line. It revolutionized manufacturing through the use of interchangeable parts and a sequential process that increased efficiency and reduced production time.
