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choli [55]
2 years ago
14

It is important for a good economic model to predict cause and effect so that it can?

Business
1 answer:
olya-2409 [2.1K]2 years ago
3 0

The ability to forecast cause and effect is crucial for a solid economic model since it enables it to both explain past events and foresee potential future ones.

A model of the economy's importance

Its main goal is to describe and examine the prices and volume sold in a market that is competitive. In relation to price and other factors, the equations of the model define the level of supply and demand (for example, income).

What conclusions do economic models draw?

A simplified representation of reality, an economic model enables us to observe, comprehend, and forecast economic phenomena. A model's goal is to simplify a complex, real-world scenario so that only the most important elements remain.

To know more about economic model

brainly.com/question/15212618

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JavaPro Systems is a​ start-up company that makes connectors for​ high-speed Internet connections. JavaPro Systems has budgeted
Iteru [2.4K]

Answer:

$429.60 Favorable

Explanation:

Provided information,

Standard Hours for each product = 3 hours

Standard Cost per hour = $14.00

Actual hours used = 198

Actual output = 80 connectors

Standard hours for actual output = 80 \times 3 = 240 hours

Actual Rate = $14.80 per hour

Direct labor cost variance = Standard Cost - Actual Cost

Standard Cost = Standard hours \times Standard Rae

= 240 \times $14 = $3,360

Actual Cost = 198 \times $14.80 = $2,930.40

Variance = $3,360 - $2,930.40 = $429.60

Since actual cost is less than standard variance is favorable.

$429.60 Favorable

3 0
3 years ago
Over the last century, U.S. real GDP per person grew at a rate of about...
Law Incorporation [45]
I think it is c I’m not sure
3 0
3 years ago
Use the information below to answer the following question. The following lots of a particular commodity were available for sale
Andreas93 [3]

Answer:

$1,510

Explanation:

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

The business had a total of 40 inventories.

The inventories sold = 40 - 20 = 20

The cost of the goods sold would first be alloted to the 3rd purchased inventory = 10 x $77 = $770

The remaining cost of goods sold would be allocated to the 2nd purchase of inventory = 10 x $74 = $740

Total = $740 + $770 = $1,510

I hope my answer helps you

8 0
3 years ago
Large firms with multiple offerings in a particular product category engage in _____ targeting strategies to obtain a bigger sha
Sergeeva-Olga [200]

Answer: Differentiated

Explanation:

Differentiated Marketing is a form of marketing where a business offers several products to meet the needs of the different segments found in a market. Large firm's can produce several products to meet the need of the various market segments which would increase purchase of their products.

3 0
3 years ago
Chang, Inc.'s balance sheet shows a​ stockholders' equity-book value​ (total common​ equity) of ​$750 comma 500. The​ firm's ear
Artist 52 [7]

Answer:

The​ price/book ratio is 2.45

This price/book ratio indicates that the Chang, Inc company has 2.45 higher market value of the stock than the book value of the equity

Explanation:

For computing the price/book ratio, we have to apply the formula which is shown below:

= Market price of equity ÷ book value of equity

where,  

the market value of equity = firm's earnings per share × price/earnings ratio × number of outstanding common stock shares

= $3.00 × 12.25 × 50,000 shares

= $1,837,500

And, the book value of equity is $750,500

Now put these values to the above formula

So, the answer would be equal to

= $1,837,500 ÷ $750,500

= 2.45

This price/book ratio indicates that the Chang, Inc company has 2.45 higher market value of the stock than the book value of the equity

4 0
3 years ago
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