Business Awareness Questions

The factors that affect worker productivity include the size of incentive payments per non-defective pair, base pay increases, how favorably a company's compensation package compares with the industry-average compensation package, and expenditures for best practices training.

A monopoly firm has no well-defined supply curve. In other words, there is no unique supply curve for the monopolist derived from his MC curve.

In economics we study that, if the price of a good increases the demand in its quantity decreases or the demand for its complimentary good increases.

For example, if the rice of a good increased by 5%, the demand in its quantity decreases by 10% approximately.

A monopoly is a market that has a single seller of a unique product in the market. He does not have any competition in the market as he has no substitute product for the product he is selling.

Quality assurance (QA) is a way of preventing mistakes and defects in manufactured products and avoiding problems when delivering solutions or services to customers.