0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
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.
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.
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.
Importance of mobility of factors of production?
emphasise on efficiency of production in a firm
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 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.
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 reducing friction increase?
Efficiency Efficiency
Who introduced the production concept of specilization?
The prominent Russian Leader Vladimir Lenin encouraged efficiency in work production by creating specialty areas. If units of labor are divided within the workforce, then production efforts would increase.
How can being vegetarian improve the efficiency of food production?
If less land was used for breeding animal for the slaughter house then there would be more land available for crop growing. In turn it would definitely increase food stocks and more people would be fed. Then they would be able to work and possibly increase efficiency of food production. Have a nice day :)
What is efficiency level?
Trophic level efficiency is the ratio of production of one trophic level to the production of the next lower trophic level. This efficiency is never high.
