Answer:
markets can produce inefficient outcomes.
Explanation:
Asymmetric information is when one party to a transaction has more information than the other party. It could be the buyer or seller that has more information
For example, if a person wants to purchase health insurance, he might not disclose the full information about his health status to the insurer. This might lead to underestimation of costs.
Also, a seller might not reveal to the buyer than the item about to be purchased is faulty.
Asymmetric information leads to inefficient outcome inn the market
The adjusting journal entry for accrued salaries at year-end:
To record the accrued salaries at year-end, Salaries Expense account is debited and Salaries Payable account is credited with the amount of accrued salaries. The adjusting journal entry for accrued salaries at year-end that amounted to $1,000 shall be as follows:
Salaries Expense Debit $1,000
Salaries Payable Credit $1,000
Answer: Marketers
Explanation:
Marketers are individuals employed by business establishments to increase sales of their products, by using various creative sales ideas to maintain existing customers and get new customers for the business.
Answer:
The company paid a lower cost per hour for labor than allowed by the standards.
Explanation:
<em>The labour cost variance is the difference between the standard labour cost allowed for the actual hours worked and the actual labor cost for the same hours</em>
<em>The labour cost variance compares the actual cost and the standard cost for the actual labour hours paid for.</em>
Hence , Poseidon Marine Stores Company would have paid a sum for labour cost which is lower than the standard cost.
The company paid a lower cost per hour for labor than allowed by the standards.
All leveling techniques delay by noncritical activities to reduce peak demand is known as resource smoothing.
If resources are sufficient but the demand differs extensively over the journey of the project, it may be sensible to smash resource demand by delaying noncritical activities to lessen peak demand and, in this way increase resource fulfillment. This process is called resource smoothing.
Resource smoothing is one of the project management devices used in the resource development techniques. It is interpreted as a technique that alters the activities of a scheme model so that all necessity for the resources do not excel the resource limits which is already pre-interpreted while planning. It is used when the time limitations takes important place in project planning.
To learn more about resource smoothing here
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