Answer: The answers are provided below.
Explanation:
Import substitution industrialization is a theory that is used by developing countries to reduce their dependence on the developed countries. Import substitution industrialization is used to protect infant industries and develop other sectors so that locally produced goods are competitive with the imported goods.
An example was used by Argentina in the 1970s as the country imposed high tariffs on imported goods and encouraging local production of leather and textile and also make the economy self sufficient and protecting local firms from foreign competition.
The main issues with import substitution industrialization is that it can lead to inefficiency on the part of local firms due to lack of competition from foreign firms. The benefits to be derived from specialisation and trading with another country may also not be gotten.
Answer:
False
Explanation:
Sunshine Act requires a collegial body to head a meet with a quorum present. The meeting must have been announced some time before it is held unless it is an urgent meeting.
Answer:
a. 1, and total revenue and price move in the same direction
Explanation:
Unit elasticity of demand is when a change in price leads to a proportional change in quantity demanded.
A good has a unit elastic demand when its coefficient of elasticity is equal to one.
If price increases by 20% , quantity demanded falls by 20%.
If price falls by 20%, quantity demanded increases by 20%.
I hope my answer helps you.
Answer:
Total direct material variance= $1,000 favorable
Explanation:
Giving the following information:
Company had a favorable direct materials price variance of $3,000 and an unfavorable direct materials usage variance of $2,000.
<u>To calculate the total direct material variance, we need to use the following formula:</u>
<u></u>
Total direct material variance= price variance +/- quantity variance
Total direct material variance= 3,000 - 2,000
Total direct material variance= $1,000 favorable
Answer:
The gross profit margin for the cat condo is 50%
Explanation:
Since the gross profit per unit is not given, so first we have to find it. The calculation is shown below:
= Selling price per unit - Direct materials cost per unit - direct labor costs per unit - Manufacturing overhead per unit
= $90 per unit - $15 per unit - $10 per unit - $20 per unit ( $10 per unit × 200%)
= $45 per unit
Now apply the Gross profit formula which is shown below:
= (Gross profit per unit ÷ selling price per unit) × 100
= ($45 per unit ÷ $90 per unit) × 100
= 50%
