JOHN CEDRIC DE ASIS

1. The U.S., and indeed much of the rest of the world, has been described as a
“knowledge society.” How does this affect productivity measurement and the
comparison of productivity between the U.S. and other countries? Explain your
answer.

Answer: A crucial way to assess a nation's capacity to offer its people a high
standard of living is through the measurement of productivity. Labor, capital, and
management can only earn high salaries through increased productivity,
improved standards of living, and labor. Prices will decrease when productivity
increases while utilizing the same resources, while prices will increase when
labor and capital costs rise without corresponding increases in productivity.
Three factors, such as labor, capital, and management, are crucial to increasing
productivity. To do this, the labor force must be better utilized with a stronger
commitment; techniques that help with this include training, motivation, team
building, human resource strategies, and improved education. Over half of the
annual increase in productivity is attributed to management and the efficient use
of capital. Knowledge societies are modern industrial societies, and knowledge
and technology are vital in postindustrial societies. Much of the labor force in
these societies has shifted from manual labor to technical and information-
processing tasks that necessitate ongoing education. Economically speaking,
knowledge societies invest in people's education and training to build up human
capital resources that will allow them to meet expectations, uphold traditions, and
—more importantly—use their knowledge to create new, innovative products.
Networking among knowledge producers, application effectiveness, control and
evaluation, and learning are crucial elements in a knowledge society. The
economy for productivity of United State is being nourished year by year as they
practiced the new ways of developing human capital resources which benefits
them as a whole country. Since U.S is on the 1 st world country, their
technological advances help them to be more distant and successful to other
country.
 2. Give examples of industries that are affected by seasonality. Why would these
businesses want to filter out seasonality? Explain your answer.

Answer: Seasonality is a phenomena in which price changes similarly and predictably

throughout the same time every year. These modifications may take place throughout a
particular growing season, quarter, month, holiday season, or off-peak time. The
commodity market often experiences seasonality. One of the industries that are usually
affected by seasonality is farm and agriculture. The agriculture industry usually have a
time frame for sowing and harvesting which could affect the price of commodity. There’s
a time for harvest season that could bring the price down as the product is abundant
(the law of supply and demand are being applied on this matter), on the other hand
when supply is limited the prices of agriculture products increases. Another example of
seasonality is airline industry, most often, their sales are being boost when season for
holy week or long weekend holidays is approaching. They always create a good
marketing strategy for the seasonal changes. I believe businesses have their ghost
season for every year which they always push a good promotional strategy to
compensate the loss that they are about to incur. Seasonality is part of our time horizon,
it might bring more sales or could affect your business.