Which appears to provide the best opportunity for increases in productivity?
O A. Labor
O B. Raw materials
O C. Management
O D. Capital
Answers
Answer:
management is the answer.
Answer:
The correct answer is C. Management
Explanation:
Entrepreneurship is the name of the game sauce that combines all the other elements of production right into a product or service for the purchaser marketplace. An example of entrepreneurship is the evolution of the social media behemoth Meta (META), formerly fb.
Mark Zuckerberg assumed the danger for the success or failure of his social media community while he started allocating time from his day by day agenda towards that pastime. when he coded the minimum possible product himself, Zuckerberg’s labor become the handiest component of manufacturing. After fb, the social media web site, have become famous and spread throughout campuses, it realized it had to recruit extra personnel. He hired two people, an engineer (Dustin Moskovitz) and a spokesperson (Chris Hughes), who each allocated hours to the project, that means that their invested time became a component of manufacturing.
the continued reputation of the product supposed that Zuckerberg additionally needed to scale technology and operations. He raised task capital money to hire workplace area, rent greater employees, and buy additional server space for development. at the beginning, there has been no want for land. however, as business persisted to grow, Meta constructed its very own office area and information centers.
Connecting the elements
any other example of entrepreneurship is Starbucks organization (SBUX). The retail coffee chain desires land (high real estate in massive towns for its espresso chain), capital (huge machinery to provide and dispense espresso), and exertions (personnel at its retail outposts for provider). Entrepreneur Howard Schultz, the agency’s founder, provided the fourth issue of manufacturing by being the primary character to recognize that a marketplace for the sort of chain existed and identifying the connections most of the different three factors of production.
ownership of things of production
The definition of things of production in financial structures presumes that possession lies with families, who lend or lease them to entrepreneurs and corporations. but that is a theoretical assemble and rarely the case in practice. except for hard work, ownership for elements of manufacturing varies based totally on enterprise and monetary device.
for example, a firm operating within the real property enterprise normally owns giant parcels of land, while retail organizations and shops lease land for extended periods of time. Capital also follows a similar model in that it is able to be owned or leased from another birthday party. under no circumstances, but, is hard work owned by way of corporations. labor’s transaction with companies is primarily based on wages.
ownership of the elements of production additionally differs based on the monetary machine. as an example, non-public organisations and individuals personal maximum of the factors of manufacturing in capitalism. but, collective exact is the predominating precept in socialism. As such, factors of production, which include land and capital, are owned and regulated by the network as a whole underneath socialism.
Which appears to provide the best opportunity for increases in productivity?
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opportunity for increases in productivity
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