Answer:substitution
Explanation:The substitution bias is a weakness in the Consumer Price Index that overstates inflation because it does not account for the substitution effect, when consumers choose to substitute one good for another after its price becomes cheaper than the good they normally buy.
when the price of a product in the consumer basket increases substantially, consumers tend to substitute lower-priced alternatives.
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The railroads have an impact on contemporary business methods corporate boards are created.
In the United States, an extensive network of railroads was built starting in the nineteenth century, allowing for the movement of products and people over significant distances, the settlement of sizable areas of the country, the development of towns and cities, and the unification of a country. Early railroads were a long cry from the vast train network that was constructed in the nineteenth century and is still in use today. In the early days of railroad construction in the United States, horses transported cargo to adjacent waterways along short, wooden railways constructed by quarries and mines.
In Quincy, Massachusetts, and Mauch Chunk, Pennsylvania, quarry and mine owners built the first full-size railroads in 1827. In 1829, the first locomotive to be used on a railroad was purchased from England.
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Answer:
a. $118,220
Explanation:
The computation of the cost of good sold is shown below:
As we know that
Cost of goods sold = Beginning Inventory + Net purchases + Freight in - Ending Inventory
where,
Net purchase is
= Purchases - Purchase returns and allowances - Purchase discounts
= $102,800 - $10,280
= $95,520
And, the other items values would remain the same
so, the cost of goods sold is
= $30,840 + $92,520 + $15,420 - $20,560
= $118,220
hence, the cosr of good sold is $118,220