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How does resource enhancement improve development?
Enhancements in the quantity and quality of resources increases productivity hence incomes. Enhanced management raises output from specified inputs:
• Production or output is the value of output (Q)
• Productivity or average product (AP) is output person which is output divided with number of employees AP= Q/L. Labour Productivity can be demonstrated as output per worker or output per hour worked.
Countries along with above average productivity have lower unit costs and a competitive benefit over countries along with low productivity.
Below is a given Frequency Distribution Table which needs the Student's attention. Please complete the table as necessary to find the following information: a. What is th
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explain how inflation could reduce the efficiency with which prices allocate resources.
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explain law of production
In brief, the price of anything is based on comparative benefit. If Adam makes clocks better and cheaper than Bill, all clock production should go to Adam.
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