ECONOMICS
PRODUCTIVITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is the best definition of ‘an increase in efficiency’?
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higher output levels than last year
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lower total costs of production
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fewer workers employed but output level remains the same
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10% more workers employed and output also rises by 10%
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Explanation:
Detailed explanation-1: -Answer and Explanation: d. An increase in the size of the labor force is not expected to increase labor productivity.
Detailed explanation-2: -Which of the following is a claimed advantage of flow production? Each worker enjoys doing one repetitive job all the time. The capital costs of setting up a production line are low. The mass production helps to keep costs per unit low.
Detailed explanation-3: -Project-based production is one-of-a-kind production in which only one unit is manufactured at a time. This type of production is often used for very large projects or for individual customers.
There is 1 question to complete.