Answer:
Costs and benefits are weighed to determine if producing the good will be profitable.
Explanation:
Production of goods refers to the process through which raw material and resources are converted to a finished product. In most economies, production of goods are services is necessary to meet the demand for these goods. Companies and firms utilize resources like labor and materials to produce finished products. This is usually a costly activity that needs to be planned and organized for it to be successful. Since most businesses is for profit making, the production process has to be done in such a way that in the end, profits are made. Production processes requires financial strategies to be applied and assessed to ensure that the process is profitable in the long run.
An example of a financial analysis that can be used is the cost benefit analysis. The cost benefit analysis involves determination of all the resources that will be needed as input. The input is then convert into monetary terms, then summed together. The total amount of input in monetary terms is the cost, since that i the total amount needed to process the raw materials to finished goods. The future benefits are also forecasted and converted into monetary terms. The comparison of the costs versus the benefits forms what is collectively termed as the cost and benefits analysis.
When the costs outweigh the benefits, then the good should not be produced. When the costs are equal to the benefits, it means the business will break-even, so there will be no profits, it is advisable not to produce the good. Finally, when the benefits outweigh the costs, it is advisable to produce the good.
Answer:
C . Consulting
Explanation:
Ray, a manager at Senzel Inc. is utilizing consulting skills.
The lower-level managers he discusses with in order to understand the effect the software will have on the internal environment of the company refers to the CONSULTANT in this scenario.
Consulting can be defined as the process of giving advice or seeking the help of professionals regarding a particular subject in a specific field.
Consulting means to engage in the business of giving advice to professionals in a particular field.
Consulting is the act of helping people to solve problems of moving from their current level to their desired level.
A consultant refers to a professional who renders the service of giving advice to people in a particular field mostly in exchange for a fee.
Answer:
well if it's dull books, shouldn't it be vocabulary. if it were concentrated she would be bored and her mind would wander elsewhere. but if it were vocabulary she would still find it dull. As if it were a dictionary, nobody wants to spend 5 hours reading every word in the dictionary
The surplus to be determined in this problem is equal to the difference between the money willing to be paid and the value of the purchase. hence for Bob, surplus value is equal to 65- 45 or $20 while that of Bill is equal to 50-45 or $5. The total surplus for both boys is equal to $20 + $5 or $25.
Answer:
Bilateral contract.
Explanation:
Bilateral contract: It is a legally binding contract between two or more parties, wherein each party agree to fullfil the promise made to each other.
There are four elements necessary for the existence of a bilateral contract:
- Agreement.
- Consideration.
- Intention to create legal relations.
- Certainty.
In the given case, Clay offers to pay Diane $50 for a golf lesson for Ewan, which they are fulfilling by agreeing to meet on Friday to exchange the cash for the lesson. Therefore, these parties have made a bilateral contract.
