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Explain the following concepts and their importance in production process
(i) Productivity
(ii) Efficiency
(iii) Technology
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- Describe the five factors of production.Draw and explain the product and productivity curve of a economymaking milk and cookies.what happens if a disease hits the economy of the cowWhat can be done when the writer wants to include the ideas of the research but leave out specific details and less important concepts of the research? Select one: a. Summarize the data b. Paraphrase C. Use quotes d. Use an executive dashboard
- Which statement best explains how human capital affects the manufacturing of a product? It affects the efficiency of the manufacturing process It promotes increased demand for manufactured goods. It provides a financial incentive for potential investors It allows households to use their savings to buy goods.MICROECONOMICS TOPIC: THE THEORY OF FIRM: PRODUCTION AND COST COMPUTE AND EXPLAINA) Despite a booming economy and low unemployment rates researchers have often found declining social mobility and growing income inequality. Discuss at least 4 reasons for this outcome. B) What is the relationship between business and society ?Describe ways in which business and society are part of an interactive system.