Business, 15.02.2020 05:10 AshlynPlayz45

William Welsh, a former Air Force pilot, decides to operate a helicopter tour company to provide customers with breathtaking views of the Rocky Mountains. He obtains a loan and purchases the necessary land, facilities, advertising, and five helicopters for his business. What important factor of production has he overlooked in creating his business?

Answers: 3

Show answers

Answers

Answer from: shamiahG

labor

Explanation:

There are four factors of production; land, labor, capital and entrepreneurship:

William is the entrepreneur, Capital accounts for the helicopters, facilities and the advertisement. Land in this case is the plot of land where the business will be located.But who will fly the helicopters and perform maintenance operations? Who will sell the tours and perform administrative tasks? William will not fly the 5 helicopters himself, perform maintenance operations and sell the tours.

Answer from: deedee363

Labor has been overlooked

Explanation:

The factors of production are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

The first factor of production is land, but this includes any natural resource used to produce goods and services. William Welsh obtains a loan and purchases the necessary land

The second factor of production is labor. Labor is the effort that people contribute to the production of goods and services. Labor resources include the work done as the work of the pilot flying the airplane overhead. He needs pilots for his helicopters he has overlooked it.

The third factor of production is capital. Think of capital as the machinery, tools and buildings humans use to produce goods and services. His capital are his helicopters, loan facilities

The fourth factor of production is entrepreneurship. An entrepreneur is a person who combines the other factors of production - land, labor, and capital - to earn a profit. William Welsh is the enterpreneur

Answer from: Quest

answer: life insurance

explanation:

Answer from: Quest

answer; ///i believe the best answer is (d) replace negative self talk with positive self-talk;

Another question on Business

Business, 21.06.2019 15:50

Aceramics manufacturer sold cups last year for $7.50 each. variable costs of manufacturing were $2.25 per unit. the company needed to sell 20,000 cups to break even. net income was $5,040. this year, the company expects the price per cup to be $9.00; variable manufacturing costs to increase 33.3%; and fixed costs to increase 10%. how many cups (rounded) does the company need to sell this year to break even?

Answers: 2

Answer

Business, 22.06.2019 10:20

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.

Answers: 3

Answer

Business, 23.06.2019 02:30

Arguments made against free trade include all of the following exceptdumping is an unfair trade practice that puts domestic producers of substitute goods at a disadvantage that they should be protected against.national defense considerations justify producing certain goods domestically whether the country has a comparative advantage in their production or not.free trade is inflationary and should be restricted in the domestic interest. if foreign governments subsidize their exports, foreign firms that export are given an unfair advantage that domestic producers should be protected against.infant industries should be protected from free trade so that they may have time to develop and compete on an even basis with older, more established foreign industries.

Answers: 3

Answer

Business, 23.06.2019 04:50

Which of the following results from the latest decision round is most important in providing guidance to company managers make in strategic moves and decisions to improve their companies competitiveness and rank among the top-performing companies in the current decision round

Answers: 3

Answer

You know the right answer?

William Welsh, a former Air Force pilot, decides to operate a helicopter tour company to provide cus...

Questions

SAT, 21.10.2020 14:01

. An art piece is predicted to increase in value by 50% in the first year and 25% each year from the second year onward. What will be the average rate...