What are the advantages and disadvantages for a developing economy, such as Ghana if it is dependent on primary products? Definition of Primary products:materials and resources used in…
There are three types of stock that a business can hold: Stocks ofmaterials (inputs brought from suppliers waiting to be used in the production process)… There are advantages and disadvantages of increasing the stock level. Advantages of holding stocks. Can meet sudden changes in demand. Less chance of loss
Reduced Waste: Robots are so accurate that the amount ofmaterial used can be reduced, decreasing costs on waste. Attract More Customers: Reduction in schedule and cost attracts customers. Automation helps provide the highest throughput with least amount of spending. Increased Safety: Robots increase
Workers may specialise to some degree; Labour costs reduced so final price is lower; Machinery may be used; Production is faster; Begins to take advantage of economies of scale. Disadvantages. The work is less interesting and very repetitive; More space is required for working and storage; Larger stocks ofmaterials
Considering that trees help prevent floods, providematerials and nourishment, and improve air, we need to keep as many of them around as possible. If other natural resources can be reused in the same way, the environment and everyone relying on it would greatly benefit. 2. Reduce consumption of
It can be difficult to produce because the availability ofmaterials can vary from season to season, place, and species, whereas synthetic dyes can be produced in laboratories all year round. Harmful Effects – Natural dyes can also be harmful to some extent. Logwood has ingredients, hematein and
Exchanges are faster especially with the internet. Sales and purchases are now facilitated and possible worldwide. This allows businesses to buymaterials with discounts or at reduced prices. Similarly, global tourism has grown. Technology has also increased the productivity of almost every industry in
When you identifymaterials that you can buy in bulk without creating logistics and storage problems, you have potential purchasing leverage with suppliers. Volume purchases may allow suppliers to consolidate packaging or reduce their own inventory levels, and they might pass those savings to you.
They provide an alternative to more expensivematerials, making them the clear choice when searching for low-cost packaging materials. Plastics are also a relatively strong material, making them reliable for a number of different uses, like plastic bags or inexpensive patio furniture. The flexible nature
The manufacturing sector is of the economy is responsible for takingmaterials and turning them into finished products. Given the constant demand for finished products, new manufacturing
International trade is also known as global trade where the traders can exchange the goods or services andmaterial across the borders. International trade was first started by the industrial revolution in US and spread across the globe in the late 18th and early 19th century. A drastic change in the
Advantage: Access tomaterials. If your corporation utilizesmaterials that are scarce in your country, then you can lower a supply risk of your company by sourcing internationally if the availability of those materials is greater in other countries. Economies of scale in removal may also mean cheap
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