Answer:
Macroeconomics.
Explanation:
It is defined to be a branch of economies that studies the behaviour and performance of an economy, this is done by aggregating it, taking a reasonable forecast with its recent happenings, investments and economic rise and falls and also the
Put simply, it focuses on the way the economy performs as a whole in its decision making processes. These variables that are been looked at includes the likes of unemployment, GDP, and inflation. Experts are seen to provide models that are used in explanations on the listed factors in tackling economic imbalance of the said country's economy.
Answer:
a. Accounting profit for the business = $3,500
b. Economic loss = $1,000
c. The two friends can open the business and incur economic loss of $1,000 in the first year of operation. In subsequent years, the revenue may increase to generate better economic profit. This is the labor, risk, and reward of entrepreneurship.
d. If the two friends do not go ahead with the business because of the economic loss they suffer in the first year of operation, then they cannot be regarded as entrepreneurs. They are merely laborers who cannot assume any risk for greater rewards tomorrow.
Explanation:
Cost of business per month:
Operating expenses = $4,000
Lease of building = 2,000
Total expenses = $6,000
Revenue = $10,000
Accounting profit $4,000
Economic profit:
Revenue = $10,000
Total expenses = $6,000
Opportunity costs:
Lost salaries 4,500
Lost Interest 500
Total costs $11,000
Economic loss = $1,000
True. because it analyzes ones abilities to do certain things so they can qualify for different positions.
Answer:
Materials quantity variance = $2,350 F
Explanation:
Given:
Standard quantity = 3.7 kilos per unit
Standard price = $5 per kilo
Unit produced = 6,300
Total material = 23,780
Computation:
Materials quantity variance = (Actual quantity × Standard price) - (Standard quantity × Standard price)
Materials quantity variance = (23,780 × $) - (6,300 × 3.7 × $5)
Materials quantity variance = $118,900 - $116,550
Materials quantity variance = $2,350 F
