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algol [13]
3 years ago
12

The following statements describe a certain country's economy. What type of economy does this country have? I. Most citizens far

m at the subsistence level. II. Citizens barter with each other for needed items. III. Doctors and professionals often accept food or other goods in exchange for services.
Business
1 answer:
garik1379 [7]3 years ago
7 0

Answer:

Traditional economy

Explanation:

This country is having traditional economy. A traditional economy refers to the economy that is built around the living culture of the society. In this type of economy, the customs, traditions and the beliefs are involved in the development of goods and services for a particular area.

There are certain characteristics of this economy;

(i) The people in this economy are following the barter system in which goods are exchanged for goods only not exchanged in monetary terms.

(ii) The most of the people in this economy are living in tribes or in families.

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3 years ago
The following standards for variable manufacturing overhead have been established for a company that makes only one product: Sta
kumpel [21]

Answer:

$17,688 unfavorable

Explanation:

The computation of the variable efficiency variance is shown below:

Variable efficiency variance = (Actual hours - standard hours) × standard rate

= (2,700 hours - 200 units × 6.8 hours)  × $13.20

= (2,700 hours - 1,360 hours)  × $13.20

= 1,340 hours  × $13.20

= $17,688 unfavorable

Since the actual hours is more than the standard hours so it would leads to unfavorable variance

6 0
4 years ago
A manufacturer produces 400 units when the market price is $10 per unit and produces 600 units when the market price is $12 per
vodka [1.7K]

Answer:

C. 2.2.

Explanation:

Mid point elasticity is calculated as follows:

<em>% change in qty supplied/ % change in price</em>

<em />

<em>% change in qty supplied</em>

= (600-400)/(600+400)/2

= 0.4

<em> % change in price </em>

= (12 -10)/(12+10)/2

= 0.181

Mid point elasticity

= 0.4/0.18

=2.2

             

5 0
3 years ago
Read 2 more answers
Alex Timbers, a wood supplier, receives an order of 10 wooden logs from a furniture manufacturing company. The client brief ment
tester [92]

Answer:

<em>Inaccurate</em>

Explanation:

<em>The information that was given to Alex Timbers who was a wood supplier that furniture manufacturing company requires teak wood, this information was </em><u><em>inaccurate</em></u><em>.</em>

Because we can see in the scenario which is mentioned in the question that the quality specialist of that furniture manufacturer company observes that the logs that was sent by Alex Timbers are very big, as the company itself ordered for teak wood, and we know that teak wood is very big. So, we can say that information provided by the company was inaccurate.

4 0
3 years ago
Adkins Company is hired on December​ 15, 2018 to perform​ services, beginning on December​ 16, 2018. Under this​ agreement, Adki
Leno4ka [110]

Answer:

$2,000

Explanation:

The amount which is to be recorded for the service revenue for the month of the December 2018 is computed as:

Service revenue = Monthly Salary / Number of days in the month of December × Number of days from being hired

where

Monthly salary is $4,000

Number of days in the month of December is 30 days

Number of days from being hired is 15 days (From 15 December to 30 December)

Service revenue = $4,000 / 30 days × 15 days

Service revenue = $133.33 × 15 days

Service revenue = $1999.95 or $2,000

Therefore, the service revenue for the month of December amounts to $2,000.

3 0
3 years ago
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