Answer:
Option (D) is the right answer.
Explanation:
According to the question, customized production is the most appropriate answer because job order production refers to the manufacturing process which is unique & customized according to the customer's needs.
While the other options are wrong because of the following reasons:
- Mass production can be described as a large number of production for the same product.
- Process production can be defined as the production which takes place through a similar process for all the products.
- Unit production can be defined as the number of production of the items.
- Standard costing can be defined as the costing which occurs on the production of the product.
Hence the most appropriate answer is option (D).
Answer:
1) The cost of something is what you give up to get it
Explanation:
As it can be seen that for opting one service the person should leave the other activity that we called as an opportunity cost
In the given situation, since it is mentioned that Janet can earn $10 per hour and for pool she has to pay $4 as an entrance fee
So here the sacrifice is made with respect if one activity is selected
Therefore the option 1 is correct
Development is the process of an economy’s increasing industrialization, standard of living, and economic wealth.
When there is a development in economics, they focus on improving the fiscal economic and social conditions in developing countries. Development does not happen over night or at a fast pace but eventually the areas they want to have developed become more economically sound to keep up with the economy's needs. There are 4 stages of economic development, they are expansion, peak, contraction and trough.
Answer: Both A and C
Explanation:
The Phil's filling gas station operates on a highway was solo in that area and had no other gas stations nearby.It enjoyed the profit .
Sooner a new gas station opened near Phil's gas station.The profit of the Phil's gas station started decreasing. This was because the it has to lower prices to increase its demand and as there were substitutes available in the market now, people moved to another gas stations for their need.
Both of the cases will decrease its profit.
Robert and Maxine Thomason are planning to purchase a new refrigerator-freezer for their new home. They have compared the quality, style, and price of four models. For the Thomasons, a refrigerator-freezer is a(n) <u>Shopping product (E)</u>
Explanation:
A shopping product is a product which involves a lot of research and comparison with the similar products of other brand.
A shopping product can be categorized into
- Homogeneous Product
- Heterogeneous Product
<u>Homogeneous Product are the products that share similar features,nature and the final purchase decision is based on the lowest price available in the market for that particular product</u>
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