1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Snezhnost [94]
1 year ago
14

explain the law of increasing opportunity costs using the example of economic growth and a production possibilities curve.

Business
1 answer:
Ivahew [28]1 year ago
3 0

The law of increasing opportunity cost tells us that, as the economy moves along the production possibilities curve in the direction of more of one good, its opportunity cost will increase.

<h3>What is economy ?</h3>

An economy is a region where products and services are produced, distributed, traded, and consumed. It is generally understood to be a social domain that places an emphasis on the behaviors, discourses, and tangible manifestations connected to the creation, utilization, and management of finite resources.

One's culture, values, education, technological advancement, history, social organization, political structure, legal system, and natural resources are all major determinants of an economy's processes. These elements determine the parameters and conditions under which an economy operates in addition to providing background and content. In other words, the economic realm is a social domain made up of connected human behaviors and exchanges that cannot exist independently.

Individuals, companies, organizations, or governments all qualify as economic actors.

To learn more about economy from the given link:

brainly.com/question/21253580

#SPJ4

You might be interested in
The declaration, record, and payment dates in connection with a cash dividend of $375,000 on a corporation’s common stock are Oc
Natali5045456 [20]

Answer and Explanation:

The Journal entry is shown below:-

October 1

Cash Dividends Dr, $335,000

         To Cash Dividends Payable $335,000

(Being a cash dividend is recorded)

November 7

No Journal entry is required

December 15

Cash Dividends Payable Dr, $335000

           To Cash  $335,000

(Being a cash dividend is recorded)

4 0
3 years ago
A machine was not properly set-up/calibrated which caused a wide variation of quality of the products it produced. This type of
vovangra [49]

Answer:

Hi you haven't provided the options to the question so I will just give the answer in my own words and you can check with the options.

Answer is ASSIGNABLE VARIATION.

Explanation:

Variation is a lack of consistency. It can introduce waste and errors into a process, for example, a manufacturing process.

There are two sources of variation which are:

1. Natural variations: are random variations that are expected and are a part of almost every production process which results from a number of chance causes.

2. Assignable variations: are trend factors that can be traced to a specific reason, such as machine tear, fatigued workers or untrained workers, flawed principles, equipment that is not properly adjusted or calibrated, or raw material problems.

According to the question, a machine was not properly set-up/calibrated which caused a wide variation of quality of the products it produced. Since the cause (improper setup/calibration) can be traced to a specific reason, therefore, the type of variation is an example of ASSIGNABLE VARIATIONS.

6 0
3 years ago
Merone Company allocates materials handling cost to the company's two products using the below data:
koban [17]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Modular Homes - Prefab Barns

Total expected units produced 6,200 9,200

Expected direct labor-hours per unit 820 320

The total materials handling cost for the year is expected to be $321,120.

First, we need to calculate the total amount of expected direct-labor hours, because it will be used as the allocation base:

Total direct-labor hours= (6,200units*820hours) + (320hours*9,200units)= 8,028,000 hours

Now, we can determine the estimated manufacturing overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 321,120/8,028,000= $0.04 per direct labor hour

Finally, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated overhead= 0.04* (320hours*9,200units)= $117,760

6 0
3 years ago
Bad examples of product adaptation
pychu [463]

Answer: these products failed

New Coke. New Coke is often cited as the ultimate example of one of the most notorious product flops and brand missteps of all time. ...

Crystal Pepsi. Pepsi introduced this clear cola in the early 1990s. ...

Arch Deluxe. ...

Ben-Gay Aspirin. ...

The Zune.

Explanation:

5 0
2 years ago
The meaning of saving and investment Classify each of the following based on the macroeconomic definitions of saving and investm
Inessa [10]

Answer:

Kate purchases stock in Pherk, a pharmaceutical company.

  • SAVINGS

Hubert purchases a new condominium in Houston.

  • INVESTMENT

Clancy purchases a certificate of deposit at his bank.

  • SAVINGS

Eileen borrows money to build a new lab for her engineering firm.

  • INVESTMENT

In macroeconomics, investment refers to the goods that we purchase not to be consumed right away, but instead will be used to produce more goods or create wealth in the future. E.g. purchase of equipment, new homes by private consumers, additional inventories, etc.

Savings refers to the money that households have left after paying all their taxes, debts, obligations and consumption expenses. E.g. savings in banks

4 0
3 years ago
Other questions:
  • A fast-food restaurant serves hamburgers, cheeseburgers, and chicken sandwiches. The restaurant counts a cheeseburger as equival
    15·1 answer
  • Tesla wanted to break into the electric vehicle (EV) marketplace with a luxury sports model. At that time, economic value was mo
    13·1 answer
  • Bailey, a single taxpayer, obtains permission to change from a calendar year to a fiscal year ending June 30, 2019. During the s
    10·1 answer
  • On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. How would Fl
    8·1 answer
  • Transactions The selected transactions below were completed by Cota Delivery Service during July: Indicate the effect of each tr
    7·1 answer
  • Telsa’s new products have been successful, in part, because they have a well-defined new product strategy at their core and are
    8·2 answers
  • Trade will take place: A. if the maximum that a consumer is willing and able to pay is less than the minimum price the producer
    7·1 answer
  • Merger Co. has 10 employees, each of whom earns $2,250 per month and has been employed since January 1. FICA Social Security tax
    11·1 answer
  • The life cycle for software development includes seven steps, which are identified below. Recall the development life cycle and
    10·1 answer
  • Consider the following case: John Smith is a archaeologist with a Ph.D. He has excavated sites across much of South America and
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!