Productivity
The ability to utilize available, desired resources and produce goods or services.
What is business productivity?
Workers produce more when they have specific role.
What is specialization?
Legal documents that represent money.
What is paper money?
Transferring currency from one entity to another.
What is a financial exchange?
Legal agreement to purchase property.
What is a mortgage?
The combination of two or more agents to produce a finished product with a greater value than the sum of its parts.
What is synergy?
Assigning different parts to different people for more efficiency.
What is division of labor?
A digital form of currency.
What is cryptocurrency?
The activity of keeping financial records in a business.
What is bookkeeping?
Lender confidence and buying power.
What is good personal credit?
To obtain the necessary components or raw materials to produce a good.
What is procurement?
Fixed cost stays the same and variable costs changes.
What is the difference between fixed and variable costs?
Transferring currency from one entity to another.
Is it legal?
Is it right?
Have potential ethical issues been recognized?
What is the framework for ethical decisions?
The cost of credit expressed as an annual, or yearly, rate.
What is APR (Annual Percentage Rate)?
Measures the growth in output minus input of labor and cost of goods sold.
What is multifactor productivity or MFP?
Increasing employees causes the production of each to go down.
What is the law of diminishing marginal return?
A monetary investment that has value and can be traded.
What is a security?
Criminal deception intended to result in financial gain.
What is fraud?
A data analytics company
What is FICO?
Measures the growth in output per unit of labor added.
What is labor productivity or LP?
Cost of production goes down as quantity of production goes up.
What are economies of scale?
A form of "money" for the purchase of goods and services.
What is a medium of exchange?
Being aware of the risk and being unaware of the lawfulness of an action.
What is the difference between recklessness and negligence?
Rate stays the same throughout the year as opposed to one that has the ability to change.
What is the difference between fixed interest and variable interest rates?