ECONOMICS

Detailed explanation-1: -Which is a example of a short-term objective? Some businesses use an automatic reorder system to maintain an adequate: inventory of supplies. Which processes turn economic resources into goods and services?

Detailed explanation-2: -A reorder point (ROP) is a specific level at which your stock needs to be replenished. Automated inventory reorder points help businesses operate more efficiently. Reorder points allow businesses to make data-driven decisions quickly about ordering inventory, without having to start over every time.

Detailed explanation-3: -Instead of basing prices on what the customer is willing to pay, businesses set prices by determining the cost of production and their ideal profit margin. For example, if a product costs $100 to make and a company’s target margin is 15%, then the product will sell for $115.

Detailed explanation-4: -One way a business can reduce the risk of accidents in the workplace is by providing its employees with: A safety training.

Detailed explanation-5: -Because quality is at stake, following instructions in the workplace is essential. In the industry, the quality of a job is its result, which is the product. This quality can only be ensured through the scrupulous application of the different instructions specific to the job.