Answer
A manufacturer stands to gain significantly by utilizing fewer scarce resources, as it leads to a reduction in production costs. The primary advantage of minimizing resource usage in manufacturing is the decrease in expenses, which ultimately results in a cheaper end product. Achieving lower production costs while maintaining quality is essential, as it can maximize profits.
Related Questions
- In a mixed market economy, what are typical ways the government can reduce unemployment? For example
- Based on your budget of $2,500, which transportation option is the best financial decision for you?
- What questions should someone consider when deciding whether to lease or buy a car? Check all that a
- Acquiring, storing, and inventorying resources are part of which NIMS management characteristic?
- How would a manufacturer benefit from using fewer scarce resources? Would the product be less expens
- Why did Maggie not have flood insurance? Check all that apply. A. Storms in her region are highly un
- Which of the following best illustrates the decision-making process for producing a specific product
- What are the most likely uses of capital invested in a business? Please check all that apply: paying
- How can a government regulate a natural monopoly? Check all that apply: a. It could buy out the comp
- Can you create a simple outline for your paragraph by identifying the introductory and concluding po