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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.
Suppose that historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-
Disadvantages of globalisation
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Calculate the incremental profit Electron Control would earn by customizing its instruments and marketing directly to end users.
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total outlay method as a measure of elasticity with application
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