The significance of Total product, Average product, and Marginal product is that they show how effective, and efficient a manufacturing process is.
<h3>How do these metrics show productivity?</h3>
Taking the labor component in production as an example, one can see the impact of these metrics.
The total product will show just how much goods and services in total that the given amount of labor was able to produce. This gives management an idea of the effectiveness of the labor in producing goods and services.
The average product then shows how efficient labor is because it gives an idea of the products produced per labor.
Marginal product is very important as well because it helps management to know when to stop hiring labor. This point will be the production level that sees the marginal product being less than the cost of hiring additional labor.
These three metrics are therefore important to management because they help to determine effectiveness, efficiency, and cost of production.
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Answer:
Netflix
Explanation:
Netflix is a company that uses streaming service where viewers can watch varieties of documentaries, popular films etc on their network . This type of service enables users to access latest films, TV shows, offered by Netflix over the internet. Although users get to watch and enjoy these services through a paid subscription, there are quite unlimited films that can be watched and downloaded for offline viewing.
Unlike a conventional method where people can watch and download films, documentaries online, Netflix provides a platform that warehouses collections of films, documentaries, TV shows hence revamp the business methods of renting movies.
Answer:
individuals will tend to become free riders, and private firms will have difficulty generating enough revenue to produce an efficient quantity of the good.
Explanation:
A public good is a good that is non excludable and non rivalrous. Everyone has assess to the statue and because one person is enjoying the view of the statue does not means another person cannot enjoy the view of the statue
The free rider problem is a form of market failure. It occurs when people benefit from a good or service of communal nature and do not pay to enjoy these services.
Because a public good is non-excludable, the problem of free rider increases so private firms would be unable to generate adequate revenue
According to business strategy, the <u>Profitability</u> ratios measure how much-operating income an organization can generate relative to assets, owners' equity, and sales.
<h3>What are Profitability ratios?</h3>
Profitability ratios s a form of financial method or procedure in which firms assess or evaluate the ability to generate income or revenue based on the capacity and resources.
<h3>Different types or methods of Profitability ratios:</h3>
- Gross Profit Ratio
- Operating Ratio
- Operating Profit Ratio
- Net Profit Ratio
- Return on Investment
Hence, in this case, it is concluded that the correct answer is "<u>Profitability ratio."</u>
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Answer:
lender.
Explanation:
A lender is an individual or company that makes funds available another com[any. Lenders receive fixed payments based on a predetermined rate at an agreed time.
A shareholder is the owner of a company. A shareholder is a person who buys the stock of a publicly traded company
Supplier provides raw materials needed for production to a company
An investor can either be a lender or shareholder
