All categories

1 year ago

Explain the importance of the primary sector and provide an example

Business

1 answer:

lesya692 [45]1 year ago

3 0

Hey there, your answer is below:

The input for the secondary sector comes from the primary sector. It comprises of all the raw materials that the secondary sector needs to process and produce goods. It generates money for some nations and can be considered "cash crops" because to its importance and worldwide commerce in sustaining the secondary sector, which is growing. This covers forestry, fishing, mining, and agriculture. In contrast, the tertiary sector creates services, while the secondary sector creates manufactured items. In less developed nations, the primary sector is frequently more significant than in industrialized nations.

Thank you,

Eddie

You might be interested in

The following information was available from the inventory records of Sunland Company for January: Units Unit Cost Total Cost Ba

luda_lava [24]

Answer:

Cost of Ending Inventory $ 47,077.74

Units on Hand 31 Jan = 4,600

Weighted Average Cost= $ 10.24per unit

Explanation:

We divide the total cost with the total number of units to get the weighted average cost per unit.

Sunland Company

Units Unit Cost Total Cost

Balance at January 1 9000 $9.70 $87300

Purchases: January 6 6000 10.35 62100

January 26 8300 10.73 89059

Total Units 23,300 238,459

Sales January 7 (7400 )

January 31 (11300 )

Units on Hand 31 Jan = 4,600

Weighted Average Cost= Total Cost/ Total Units = 238,459/ 23,300 =

$ 10.235≅ $ 10.24

Cost of Ending Inventory = 4,600*$ 10.24= $ 47,077.74

8 0

3 years ago

Suppose that consumption decreases. What is the effect on investment and real interest rate? Analyze using graphs. Briefly descr

Talja [164]

Answer:

Interest rates and investment

If interest rates are increased then it will tend to discourage investment because investment has a higher opportunity cost. With higher rates, it is more expensive to borrow money from a bank. Saving money in a bank gives a higher rate of return.

8 0

3 years ago

Timothy was tasked with creating the budget for the next fiscal year. He had to create a cost-profit analysis report of all the

nlexa [21]

The position held by Timothy within his company is FINANCE MANAGER because in summary, his duty was to produce financial reports (he had to create a cost-profit analysis report of all the current product lines of the company), direct investment activities (he was tasked with creating the budget for the next fiscal year), and develop strategies and plans for the long-term financial goals of their organization (He also had to identify avenues for possible cost reduction in the budget).

3 0

3 years ago

Cane company manufactures two products called alpha and beta that sell for $225 and $175, respectively. each product uses only o

tester [92]

Answer:

The special order should be rejected since it decreases net profit.

Explanation:

Alpha = $225

Beta = $175

total production capacity = 130,000 pounds

raw materials = $6 per pound

Production costs per unit Alpha Beta

direct materials $42 $24

direct labor $42 $32

variable manufacturing overhead $26 $24

fixed manufacturing overhead $34 $37

variable selling expenses $31 $27

common fixed expenses $34 $29

total cost per unit $209 $173

Cane expects to sell 114,000 Alphas.

Net profit = (114,000 x $225) - (114,000 x $209) = $25,650,000 - $23,826,000 = $1,824,000

If the new sales order is accepted, Cane's revenue will increase to:

101,000 x $225 = $22,725,000
29,000 x $156 = $4,524,000
total = $27,249,000

Their total cost will by:

114,000* x $209 = $23,826,000
16,000 x ($209 - $34 avoidable fixed costs) = $2,800,000
total = $26,626,000

*This sale increases the output, but previous costs cannot be avoided.

Net profit with special order = $27,249,000 - $26,626,000 = $623,000

The special order should be rejected since it decreases net profit.

6 0

3 years ago

The bonds issued by United Corp. bear a coupon of 6 percent, payable semiannually. The bond matures in 20 years and has a $1,000

pishuonlain [190]

Answer: 6.40%

Explanation:

Use Excel to calculate this by the formula;

= RATE(Nper,Pmt,-Pv,Fv)

Nper is number of periods = 20 * 2 = 40 semi annual periods

Pmt is the payment = $6%/2 * 1,000 = $30

Pv is the present value = $955

Fv is future value or face value = $1,000

= RATE (40,60,-955,1000)

= 3.20% * 2 (because this is a semi annual rate)

= 6.40%

8 0

3 years ago