You and Your Friend Work Together for 4 Hours to Produce

question 332

Multiple Choice

You and your friend work together for 4 hours to produce a total of 12 futons. What is productivity?

• A)12 futons
• B)24 futons
• C)3 futons per hour of labor
• D)1.5 futons per hour of labor

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Definitions:

Marketing Strategies

Plans designed to achieve marketing objectives, involving the targeted promotion of products or services to specific audiences.

Insourcing

The practice of using a company’s internal employees or other resources to accomplish a task.

Just-In-Time

An inventory management strategy that increases efficiency and decreases waste by receiving goods only as they are needed in the production process, reducing inventory costs.

Import Duties

Taxes imposed by a government on goods imported from other countries, meant to protect domestic industries and generate revenue.