Production, Costs, Revenue And Profit
Bayani Gaba-gaba
A bakery and a national supermarket chain both sell bread. The bakery pays more for every sack of flour it buys, more per loaf for its ovens, more per delivery for its van. It is not badly run. It is simply small, and in this part of economics size changes the arithmetic. Understanding why is the difference between describing a business and explaining one.
This lesson gives you the four quantities every producer watches: costs, revenue, profit and productivity. You will separate fixed costs from variable ones and total figures from averages, calculate profit from raw sales data, and work out how much output a workforce produces per head. Then you will meet economies of scale, the reason a bigger firm can undercut a smaller one, and diseconomies of scale, the reason getting bigger eventually starts to hurt. Along the way you will meet the awkward question the examiners keep returning to: what happens when the pursuit of profit runs into what is right.
Manufura
- Business objectives
- Types of costs
- Types of revenue
- Profit
- The importance of cost, revenue and profit for producers
- Moral and ethical considerations
- Production and productivity
- The meaning and importance of productivity
- The factors that influence productivity
- Economies of scale
- The meaning of economies of scale
- Types of economies of scale
- Diseconomies of scale
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Takardar Darasi
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Nazarin Darasi
Barka da kammala darasi akan Production, Costs, Revenue And Profit. Yanzu da kuka bincika mahimman raayoyi da raayoyi, lokaci yayi da zaku gwada ilimin ku. Wannan sashe yana ba da ayyuka iri-iri Tambayoyin da aka tsara don ƙarfafa fahimtar ku da kuma taimaka muku auna fahimtar ku game da kayan.
Za ka gamu da haɗe-haɗen nau'ikan tambayoyi, ciki har da tambayoyin zaɓi da yawa, tambayoyin gajeren amsa, da tambayoyin rubutu. Kowace tambaya an ƙirƙira ta da kyau don auna fannoni daban-daban na iliminka da ƙwarewar tunani mai zurfi.
Yi wannan ɓangaren na kimantawa a matsayin wata dama don ƙarfafa fahimtarka kan batun kuma don gano duk wani yanki da kake buƙatar ƙarin karatu. Kada ka yanke ƙauna da duk wani ƙalubale da ka fuskanta; maimakon haka, ka kallesu a matsayin damar haɓaka da ingantawa.
- Which of the following is most likely to be a variable cost for a bakery? A. Building insurance B. Flour C. The manager's salary D. The rent on the shop Answer: B
- A firm's total revenue is $80,000 and its total costs are $63,500. What is its profit? A. $16,500 B. $63,500 C. $80,000 D. $143,500 Answer: A
- A firm pays a lower price per tonne to its suppliers as its output increases. Which economy of scale is this? A. Financial B. Managerial C. Purchasing D. Risk-bearing Answer: C
- A workshop with 5 workers produces 240 units a day. What is the output per worker? A. 24 units B. 48 units C. 235 units D. 1,200 units Answer: B
- Which of the following is a cause of diseconomies of scale? A. Bulk-buying discounts on raw materials B. Communication becoming slower as the firm grows C. Fixed costs being spread over more units D. Lower interest rates on borrowing Answer: B
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Yi aikin wadannan tambayoyi a cikin manhaja
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