George Stigler is a known American economist and according to his theory the Consumer theory, he quoted that <span>“if consumers do not buy less of a commodity when their incomes rise, they will surely buy less when the price of the commodity rises.” This means that when consumers do not purchase a certain product even if their incomes increases, that is considered normal, but when the product increases in value, we can expect that these consumers will buy less of the product.</span>
A type of production that focuses on making a large number of a few products rather than customer preferences is called mass production.
<h3>What is mass production?</h3>
Mass production is also referred to as continuous production or flow production and it can be defined as a type of production that focuses on manufacturing large quantities of a standardized product and it doesn't concern itself with customer preferences.
This ultimately implies that, mass production is mainly focused on making a large number of a few products rather than being focused on customer preferences. Also, the production is usually in a constant flow and automated by a mechanical process.
Read more on mass production here: brainly.com/question/744854
Answer:
$6,100
Explanation:
The computation of the net income is shown below:
= Service revenue in trial balance + ( unearned revenue × given percentage) - (rent expense in trial balance) + ( Prepaid rent × 2 months ÷ 12 months) - (wages expense in trial balance + adjusted trial balance)
= $5,000 + ($4,000 × 80%) - ($800 + $3,600 × 2 months ÷ 12 months - ($600 + $100)
= $5,000 + $3,200 - $1,400 - $700
= $6,100
Answer:
The advantages of using secondary data are several, but its main advantage is that it is the cheapest way to gather large sets of information. A lot of secondary data is available on the internet, so it is time saving. Using secondary data saves work, efforts and money.
We can also use secondary data to determine more specifically which primary data we need to gather, again saving resources.
Answer:
True
Explanation:
If you dress inappropriately, that is not showing a good first impression. Most, if not all jobs want to have employees that can dress well, cooperate, and work well with others.
