(a) Knowledge check questions 1 An operations process that has little waste is
known as
production
2 What is the difference between total output and
productivity?
3 You employ 20 employees who produce a
total of 700 units per week. What is the labour
productivity?
4 Explain one reason why managers may be eager to
increase labour productivity,

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

im thinking a but im not 100% sure

explanation:

answer; ///deficit;

answer decisions made by individual households and firms;