Resources Used To Produce Goods And Services Are Called Factors of Production. Identify And Explain Any Five Factors of Production.

Resources Used To Produce Goods And Services Are Called Factors of Production. Identify And Explain Any Five Factors of Production. Factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and […]

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Low-volume, High-variety Production Is Best Suited For Which Of The Following Process Strategies?

Low-volume, High-variety Production Is Best Suited For Which Of The Following Process Strategies?

A) Repetitive FocusB) Process FocusC) Product FocusD) Mass Customization Process strategies are described as the method by which a company creates its consumer goods. It is simply an organization’s approach to transforming resources into goods and services. The four process strategies are product focus, process focus, repetitive focus, and mass customization. Process Focus is an important strategy […]

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