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Unit 4: 1. Productivity
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How do you increase productivity?
1 point
Better processes, technology or training.
Inject more capital into the company
Higher output per input, lower salary bill and creation of better paid jobs.
Something inbuilt by the entrepreneur at the beginning of the company
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What was the name of the McDonald's brother's method of increasing productivity in their restaurants?
1 point
Fast Food
The Speedy System
Drive in Diner
I'm Lovin It
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What is the definition of added value?
1 point
The amount of profit made on each item sold.
The difference in price between the materials used to make a product and the price being paid for it.
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Name the four factors of production
1 point
Profits, Minerals, Workers and Shareholders
Lend, Lease, Loan and Lean
Land, Labour, Capital, Enterprise
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How do you calculate productivity?
1 point
Outputs divided by inputs as a measure of business efficiency.
Inputs divided by outputs as a measure of business efficiency
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