Answer:
Resources are limited in supply(scarcity) while wants are unlimited thus one has to make a choice to satisfy a need.Some choices are forgone(opportunity cost)
Answer: $156
Explanation:
The gross domestic product is referred to as the value of the final goods which a particular country produces for that economy.
Based on the information given, the GDP will be calculated as:
GDP = C + I + G + X - M
where C = consumption = $120
I = Investment = $25
G = government purchases = $15
X = exports = $8
M = imports = $12
GDP = C + I + G + X - IM
GDP = $120 + $25 + $15 + $8 - $12
GDP = $156
Answer: $298,800
Explanation:
Cost of goods purchased = Gross merchandise cost + Transportation-in (Carriage inwards) - Purchase discount - Purchase returns
= 304,000 + 6,700 - 3,500 - 8,400
= $298,800
Answer:
Harlose Suits owns more equipment than required for manufacturing goods during periods of regular demand in order to tackle sudden demand surges. It also has a certain reserve of produced goods to tackle material shortages. In this case, the reserve of equipment and produced goods are examples of <u>the</u> <u>capacity cushion</u>.
Explanation:
The capacity cushion is the amount of reserve capacity that a business keeps to manage sudden increases of demand or momentarily losses of production capacity.
The four primary functions of managers are planning, organizing, leading, and controlling. By using the four functions, managers work to increase the efficiency and effectiveness of their employees, processes, projects, and organizations as a whole.
