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Pavel [41]
3 years ago
5

For many years a mainstay of the economy in Seattle, Washington was commercial fishing. Many people not employed in the fishing

industry were employed providing goods and services to fishermen. This is an example of __________.
Business
1 answer:
Stells [14]3 years ago
7 0

Answer: The above is an example of a basic employment generating nonbasic employment.

Explanation: Basic employment is employment as a result of businesses that operate on a very large scale, and usually these businesses export their products outside the location where they are because they can more than meet the demand of that locality.

As seen in the question above, where fishing is the mainstay of the economy of Seattle. This means the fishing industry in Seattle can meet the demand of Seattle and still have commercial quantities for export.

Non-basic employment often refers to small businesses who offer services to the local customers.

In the case of the question above, the fishing industry has brought about a rise in small businesses, these small businesses will make profit from meeting the needs of the fishermen.

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An increase in the unit (per pill) contribution margin.

Explanation:

Breakeven point is defined as the level of sales where total cost is equal to total revenue.

The formula is given as

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Note the Sales revenue less variable cost is the contributing margin.

Breakeven= Fixed cost ÷ Contributing margin

To reduce breakeven we must either reduce the numerator or increase the denominator.

In this case an increase in contributing margin will result in a decrease in breakeven amount of the company.

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2 years ago
The possibility of incurring a loss is called?
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Risk or financial loss ...
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Kevin has $20 to spend on summer clothes. He is looking at shirts, shorts, and flip-flops. Shirts are $10, shorts are $15, and f
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Answer:

Kevin has analyzed the situation well. However, he should also consider the fact that he saved $10 by only purchasing the shirt.

Opportunity cost is the cost of the forgone alternative. Out of the 3 choices, he only purchased 1 of the choices, the opportunity cost are the other two choices. However, he is still capable of buying the flip-flops costing $10 but he chose not to do so. He should consider it as a savings aside from it being a lost opportunity.

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