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Unformatted text preview: rigid to adjust the total production cost : extra workers can be employed or dismissed according to the business volume/any other relevant point (2) (Mark the FIRST POINT only) 2003 10 (a) Division of labour (1)- choosing the most suitable persons for the job- practice makes perfect / learning by doing- saving time from training- saving time from moving around tasks- stimulus to mechanization 2005 03 (a) Public limited company. (1) Advantages :- wider source of capital- limited liability- legal entity- shares freely transferable- continuity of business Disadvantages :- financial accounts disclosed to the public- higher profits tax rate- higher risk of being taken over- complicated set-up procedure...
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This note was uploaded on 11/03/2011 for the course ECON 101 taught by Professor Buddin during the Spring '08 term at UCLA.
- Spring '08