Answer:
b. It creates equality throughout society
Explanation:
Specialisation & Trade refer to tendency of countries to produce goods of their specialisation & trade them with each other , rather than each country producing each good.
It leads to increase in productivity from knowledge specialisation, based on advantage (absolute, comparative) based production. It also makes people better off, increase in welfare due to choice expansion among differing preferences.
However, it is not in anyways connected to equality throughout society.
Delivering healthcare goods and services requires several inputs in economic terms these inputs can be classified as either <u>labor</u><u> </u>or non-labor.
<h3>What are non-labor inputs?</h3>
Speaking from the perspective of the factors of production, on one hand, non-labor inputs refers to such inputs as:
- Energy
- Land
- Capital
- Information etc.
The amount of labor input is calculated as either the number of employees or the number of hours they put in during a specific time period, such a year.
The majority of nations gather information on the number of employees and are able to compute labor productivity as output per employee.
Learn more about labor inputs:
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<em>Answer</em>:
<u>$52,000</u>
Explanation:
Remember, the FIFO inventory costing method records the inventory value based on the cost of the earliest (first) purchased or in hand balance.
The effective tax rate would usually be applied after the sales, however using FIFO we assume the first value of the inventory prior to the tax deduction.
= 4000 x $13
= $52,000
Therefore, the gross profit for the period is $52,000.
Answer:
The realized gain is 0
Explanation:
The fair market value of the truck that archie gives up is $15,000 and the new truck he gets has a fair market value of $20,000. Archie also gives $5,000 in cash plus his old truck in order to buy the new truck.
Gain= Fair market value of new truck -Fair market value of old truck - Cash paid
Gain = 20,000-15,000-5,000
Gain = 0
Answer:
4.83 times
Explanation:
The computation of the inventory turnover is shown below:
= Cost of goods sold ÷ average inventory
where,
Average inventory = Raw material inventory + work in progress inventory + finished goods inventory
= $740 + $320 + $1,010
= $2,070
And, the cost of good sold is $10,000
Now put these values to the above formula
So, the answer would be equal to
= $10,000 ÷ $2,070
= 4.83 times
