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Anastaziya [24]
3 years ago
13

Economic systems seek to answer what key economic questions Select all that apply. How should goods and services be produced? Wh

ere goods and services will be produced? When goods and services will be produced? What goods and services will be produced? Who will consume goods and services? NEXT QUESTION ASK FOR HELP
Business
1 answer:
Lynna [10]3 years ago
7 0

All economic systems must answer the 3 basic questions:

1. What goods and services will be produced

2. How will the goods and services be produced?

3. Who will consume the goods and services?

You might be interested in
Rostad Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhe
yanalaym [24]

Answer:

b. $1,419 unfavorable

Explanation:

The computation of the fixed manufacturing overhead volume variance is shown below:-

Fixed manufacturing overhead volume variance = Budgeted fixed overhead - standard fixed overhead

First we compute the computing the Budgeted Fixed overhead and Standard fixed overhead

Budgeted Fixed overhead = $14,310 + $13,600 + $57,230

= $85,140

Standard fixed overhead = Standard hours allowed for actual output × Overhead rate

= $6,490 × ($85,140 ÷ $6,600)

= $83,721

Now, we will put it into formula of Fixed manufacturing overhead volume variance =

$85,140 - $83,721

= $1,419 Unfavorable

7 0
3 years ago
You're trying to save to buy a new $196,000 Ferrari. You have $46,000 today that can be invested at your bank. The bank pays 5.4
katovenus [111]

Answer:

It will take 27.56 years to gain $196,000.

Explanation:

Giving the following information:

Future value (FV)= $196,000

Present value (PV)= $46,000

Interest rate= 5.4% = 0.054

<u>To calculate the time required to reach the objective, we need to use the following formula:</u>

n= ln(FV/PV) / ln(1+i)  

n= ln(196,000/46,000) / ln(1.054)

n= 27.56

It will take 27.56 years to gain $196,000.

4 0
3 years ago
Give an example of financial leverage, define it and explain how financial leverage works
Gemiola [76]
Example: A company spends $5 million to buy prime real estate on which to build a new manufacturing factory. The land is worth $5 million. This is not financial leverage because the corporation is not using borrowed funds to purchase the land.
If the same corporation spent $2.5 million of its own money and $2.5 million in borrowed funds to purchase the same piece of real estate, the company is utilizing financial leverage.

Define: the utilization of fixed expenditures to increase the expected risk and potential return

Explanation: When purchasing assets, the corporation has three alternatives for financing: stock, debt, and leases. Apart from equity, the remaining choices have fixed costs that are lower than the expected income from the asset.
7 0
2 years ago
Freer trade, advances in information technology, and more global customers are pressuring many large global companies to:
Volgvan

Firms are often involve in different kinds of trade. Freer trade, advances in information technology, and more global customers are pressuring many large global companies to shift from functional structures to geographically based divisionalized structures.

There are great advances in information technology (IT). Firms often get benefits of free trade in IT as they are able to expand their business into other different new areas with less effective charges.

FTA is known to be very good to optimal sharing of resources in the region as it helps to boast the efficiency of economic activities and also increase the stock of a country's technology.

Learn more about trade from

brainly.com/question/3520350

7 0
3 years ago
Suppose nominal GDP in the base year was $380 million. Five years later, nominal GDP was $480 billion and the GDP price index wa
Ostrovityanka [42]

Answer: increased by $20 billion

Explanation:

Real GDP is year of interest is:

= (Nominal GDP in year of interest/ GDP Price index in year of interest) * 100

= 480/120 * 100

= $400 billion

Nominal GDP is equal to Real GDP in base year so increase in real GDP is:

= 400 - 380

= $20 billion

6 0
3 years ago
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