Which Would Be Least Likely to Cause the Production Possibilities

question 30

Multiple Choice

Which would be least likely to cause the production possibilities curve to shift to the right?

• A) An increase in the labour force.
• B) Improved methods of production.
• C) An increase in the education and training of the labour force.
• D) A decrease in unemployment.

Differentiate between the roles of calling and called functions.

Understand function declarations and the significance of function prototypes for successful function calls.

Understand the legislative framework and amendments related to business entities, such as the 1997 Revised Act and its 2018 amendment.

Comprehend the formation and characteristics of general partnerships, including the lack of formalities in their establishment.

---

Definitions:

Manufacturing Overhead

This refers to the indirect costs associated with manufacturing, such as utilities, rent, and salaries of supervisory staff, that are not directly traceable to a specific product.

Job Order Cost System

An accounting system used to assign costs to specific jobs or batches, ideal for customized orders.

Indirect Product Costs

Costs that are not directly traceable to a specific product but are necessary for the production process, such as utilities or managerial salaries.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to products or job orders, based on a set activity measure.