Answer:
3 basics decision that need to made or taken by all the economies are
1. What to produce
2. For whom to produce
3. How to produce
Explanation:
The 3 basic decisions which should be made by the all economies are:
1. What to produce - Under this, the economies need to decide that what product or service they need to produce, which is liked by the consumers or purchased by the consumers so that they could sell their product in the market and earn profit out of it. In this, the economy need to take care of the needs or demand of the consumers and produce accordingly.
2. How to produce - Then the second decision is regarding how to the produce the goods or services, which the customers or consumers want as they have the limited resources available with them and from that they cannot produce all the products. So, they need to choose or decide.
3. For whom to produce or who consumes it - Under this, they required to take the decision regarding that for whom they are producing the goods or services whether it is a company or a consumer or economy.
An Artificial Monopoly is a very huge firm wherein the production efficiency has no advantage over smaller firms but thrives all competitors out of business, remaining the sole producer of the industry.
Price leadership refers to the setting of price in a market by a dominant company which is observed by other in the same market. It is a form of cooperative pricing. The method of price leadership is often used by matured and established industries.
INCREASE IN RIVALRY AMONG COMPANIES AND DECREASE IN PRICE AND PROFITS can occur when the price leadership model break down.
Answer:
Forming.
Explanation:
The forming stage includes a time of direction and acclimating. Uncertainty is high during this stage, and individuals are searching for leadership and authority. A member who declares authority or is educated might be hoped to take control.
Answer:
The correct answer is letter "D": when the actual price is less than the standard price.
Explanation:
Direct labor rate variance compares the existing direct labor costs and normal direct labor costs over the same operating period. Favorable variance in the labor rate can be caused by hiring more unskilled employees, reducing the minimum wage, and incorrectly setting indirect labor costs. Favorable variance takes place when the <em>costs of direct labor are efficient or lower compared to the standard</em>.
