Answer:
Production= 1,240 units
Explanation:
Giving the following information:
Sales:
February= 1,250
March= 1,200
Desired ending finished goods inventory is equal to 20 percent of the next month's sales.
To determine the production required for February, we need to use the following formula:
Production= sales + desired ending inventory - beginning inventory
Production= 1,250 + (1,200*0.2) - (1,250*0.2)
Production= 1,240 units
Due to scarcity. There exist unlimited wants but only scarce amount of resources to meet those wants so items must be allocated through a system of prices or through exchange.
Some managers set long-term goals and define strategies to achieve them. These are top level managers.
<h3>Top-level management
comprises:</h3>
- CEO
- Director of Operations
- Information Director
- Administrative Director
- Senior Executive
<h3 /><h3>Roles of top-level managers:</h3>
They exercise company governance, that is, they direct organizational systems in order to achieve the objectives and goals established for a company to be well positioned and profitable in the market.
Therefore, the top management of a company must be composed of visionary leaders who adapt to internal and external business conditions, seeking the best solutions for the business demand.
Find out more information about top-level managers here:
brainly.com/question/7151206
Answer:
Income elasticity of demand for snarfblatts is 1.
Explanation:
the consumer spends 20% of the income on snarfblatts, thus the percentage change in consumption of the snaerblatts is equal to the percentage in income, that is:
Elasticity = % change in demand of snarfblatts/% change in income
= 1
Therefore, Income elasticity of demand for snarfblatts is 1.
