Developing New Products and Services as Well as Introducing New

question 14

Multiple Choice

Developing new products and services as well as introducing new production methods are among the ways that ________ increases average labor productivity.

• A)human capital
• B)physical capital
• C)an entrepreneur
• D)a manager

---

Definitions:

Budgeted Data

A financial plan for the future concerning the revenues and costs of a business.

Production Needs

Refers to the requirements necessary to complete the manufacturing process, including raw materials, labor, and machinery.

Raw Materials

The basic substances used in the production of goods, which are transformed during the manufacturing process.

Raw Materials Purchases

Expenditures for the acquisition of materials that are directly used in the production of goods or services.