Question: What is a scarce resource? Why is an organization's most scarce resource likely to change from time to time?

What is a scarce resource? Why is an organization's most scarce resource likely to change from time to time?

Step by Step Solution

★★★★★

3.34 Rating (172 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

A scarce resource is any input that constrains production capacity In the short run any co... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

146-B-C-A-D-M (144).docx

120 KBs Word File

Students Have Also Explored These Related Cost Accounting Questions!

Q:

3 Mary orders a custom-made caravan from Oz Camping Direct. The caravan is manufactured overseas but sold in Australian by Oz Camping Direct. After six months of driving around Australia, the caravan...

Q:

What is a scarce resource? Why will the resource that is most scarce in an organization be likely to change from time to time?

Q:

If there is a scarce resource that is restricting sales, how will the business maximise its profit? Explain the logic of the approach that you have identified for maximising profit.

Q:

What is the general rule for allocating a scarce resource to making multiple products?

Q:

Read the following article and answer the questions below: Building Competitive Advantage Through People Magazine: Winter 2002Research Feature January 15, 2002 Reading Time: 23 min Christopher A....

Q:

About question #74, the answer is [$32 - 12 - 6 - 4 - 0.50] 2,000 = $19,000 where is the "4" come from? ch4 Student: ___________________________________________________________________________ 1....

Q:

Financial crisis analysis. Find a current (within the last year) article on a company that has been faced with a significant financial crisis or challenge. It could be downsizing, starting up,...

Q:

This text was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work's original creator or licensee. 1...

Q:

Please answer this question with extreme detail for an immediate thumbs up. I don't get credit unless it is detailed please help. Thank you for your time in advance. REQUIRED TEXT POSTED WITH...

Q:

PLEASE COMPLETE NO LATER THAN 10/28 @3:30PM Each question(1,2,& 3) must be a minimum of 200 words. Please EXPLAIN answers in FULL detail and make answers knowledgeable based off the attached reading,...

Q:

Description ofMPA Capstone Learning and Professional Development Portfolio Assessment Rubric : The rubrics articulate fundamental criteria for each intermediary competency, which combined form the...

Q:

What can you do to assist indecisive people in coming to a decision?

Q:

Patients in a hospital are classified as surgical or medical. A record is kept of the number of times patients require nursing service during the night and whether or not these patients are on...

Q:

The control of a high-speed steel-rolling mill is a challenging problem. The goal is to keep the strip thickness accurate and readily adjustable. The model of the control system is shown in Figure...

Q:

The periodicity of a simple pendulum in a stationary lift is 2s. If the lift moves upward with an acceleration of 2 m / s, the period of the simple pendulum will be (a) 1.79 s (b) 1.7s (c) 1.6 s (d)...

Q:

A firm currently has the following production (marginal products) and input price situation with respect to two types of labor (L1 and L2) which can be imperfectly substituted for one another: MPL1 =...

Q:

A firms current MRTSLK (in absolute value) is 1.6. Its input prices are PL = 4 and PK = 6. Based upon this information, to reduce its costs the firms best option among those listed below is to?:...

Q:

6. Look at the job postings at www.apics.org and evaluate the opportunities for an OSCM major with several years of experience.

Q:

Management at Krazy Klothing wants to implement a balanced scorecard. The company has a single location in Seattle, Washington, and 15 employees. The primary customers are college students between 18...

Q:

Management at Krazy Klothing wants to implement a balanced scorecard. The company has a single location in Seattle, Washington, and 15 employees. The primary customers are college students between 18...

Q:

Use the information from Exercise 35. What objectives and measurements for those objectives at Krazy Klothing do you think should be included for the customer perspective of the BSC? In Exercise 35,...

Q:

Stockton Mineral Operations ( SMO ) currently has 5 7 0 , 0 0 0 shares of stock outstanding that sell for $ 9 0 per share. Assume no market imperfections or tax effects exist. Determine the share...

Q:

need help with D. and E. b. Calculate the present value of each of the anticipated dividends at a discount rate of 14 percent. (Do not round intermediate calculations. Round your final answers to 2...

Q:

An investor buys a 6% annual payment bond with three years to maturity. The bond has a yield-to-maturity of 8% and is currently priced at 94.845806 per 100 of par. The bond's Macaulay duration is...