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3 years ago

How does specialization benefit both producers and consumors in a free market economy?

1 answer:

7 0

Through specialization, both producers and consumers benefit. On the producer side, specialization allows producers to best use their resources in the most efficient manner possible by playing to their strengths, thus maximizing profit. On the consumer side, the fact that producers are specialized and thus efficient in their production ensures lower production costs than if products were made by less-specialized producers, translating into lower consumer-facing prices.

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Roland Richard, a baker, purchased 200 ounces off of an expensive spice for $400 on 3/1/09. The journal entry to record the purc

kirill [66]

Answer:

The correct adjusting journal entry for 12/31/09:

D. debit Spice Expense and credit Spice Inventory 240

Explanation:

Roland Richard purchased 200 ounces off of an expensive spice for $400.

Cost per ounce = $400/200 = $2

By December, 12/31/09, there were 80 ounces on hand. Roland Richard used 120 ounces of expensive spice with the amount of expense: $2 x 120 = $240

The adjusting journal entry for 12/31/09:

Debit Spice Expense $240

Credit Spice Inventory $240

6 0

3 years ago

However, when the entire residence staff listened to our argument again, they became convinced that the system wasn't fair. howe

kykrilka [37]

There is a difference in the change of pronounce used. The best (and probably correct answer) is the first sentence: However, when the entire residence staff listened to our argument again, they became convinced that the system wasn't fair. The pronounce 'they' refer to the collective term of 'entire residence staff'.

5 0

3 years ago

Kijijo Auctions runs an online auction company. Its end-of-year financial statements indicate the following results. Total asset

katrin [286]

Answer:

40%

Explanation:

Total assets. $240,000

Less total liabilities ($130,000)

$110,000

Less common stock ($24,000)

Retained earnings at end $86,0000

Less Retained earnings at the beginning ($29,000)

Addition to retained earnings $57,000

Add dividends $6,400

Net profit earned $63,400

Add expenses $94,000

Revenue. $157,400

Therefore, company's net profit margin expressed as a percentage = Net profit earned / Revenue

= (63,400/157,400) × 100

= 40%

6 0

3 years ago

Good strategy execution involves Multiple Choice making choices among broad or narrow low cost and differentiation strategies to

Semmy [17]

Answer:

The answer is: team participation to perform strategy-critical activities in light of prevailing circumstances.

Explanation:

The good execution of the strategy is mainly related to the ability of managers to involve all operational areas and all employees in the process of participating in the strategic actions that were developed to achieve the goals and objectives of the organization.

Therefore, managers have an essential role in exercising control, coordination and monitoring of the teams, so that the execution of the strategy takes place in an effective and active manner, being shared as a responsibility and efforts of the entire team.

8 0

2 years ago

In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Japanese adult non-institutionalized p

tigry1 [53]

Answer: 59.27% and 4.77%.

Explanation:

Given that,

In the year 2009:

Japanese adult non-institutionalized population = 110.272 million

Labor force = 65.362 million

Number of people employed = 62.242 million

Japanese labor-force participation rate = $\frac{Total\ labor\ force}{Total\ population}$