--%>

Roundabout production

Describe the merits of “roundabout” production?  Describe the term “division of labor”?

E

Expert

Verified

“Roundabout production” means using capital goods in the production process. To operate more efficiently and to produce more output this enables producers.

“Division of labor” describes that employees achieve those tasks which are best suited to their personal skills as well as abilities.

   Related Questions in Business Economics

  • Q : Elucidate types of unemployment

    Elucidate types of unemployment?

  • Q : Resources of private Capitalism I have

    I have a problem in economics on Resources of private Capitalism. Please help me in the following question. The Private individuals own most resources and find out how they will be employed in an economic system of: (1) Socialism. (2) Capitalism. (3)

  • Q : What are the major legal forms of

    What are the major legal forms of business organization?

  • Q : Human Resource Management problems

    Question Write a report on a local firm that faces Human Resource Management problems. Pick two major problems and provide solutions to it. The company selected must

  • Q : Question 7 Question 7: You are given

    Question 7: You are given the following data about two firms: FIRM A Quantity 0 1 2 3 4 5 6 Total revenue ($) 0 10 20 30 40 50 60 Average revenue ($) ___ ___ ___ ___ ___ ___ ___ Marginal revenue ($) ___ ___ ___ ___ ___ ___ Total cost ($) 30 42 50 60 76 100 14

  • Q : Illustrate how Microeconomics looks at

    Illustrate how Microeconomics looks at specific economic units?

  • Q : Best society according to Utilitarianism

    Utilitarianism proposes such that the finest society is one which gives the: (w) fundamental goods to meet people’s requirements. (x) greatest happiness for the maximum number of people. (y) exact measurement of utility and disutility. (d) highe

  • Q : What are economic resources What are

    What are economic resources? What are the major functions of the entrepreneur?

  • Q : Equilibrium market rate & Undervalued

    Question: a. In the short-run, it is easier for a country to maintain a peg that undervalues a currency (relative to the equilibrium market rate) than it is to maintain a peg that overvalues the currency (relative

  • Q : Activities of speculators in long turn

    The activities of speculators tend to, in the long run: (w) decrease the volatility of prices. (x) attract legal attention resulting in imprisonment. (y) increase the level and volatility of prices. (z) yield tremendous profits and raise costs to cons