Ingredients such as sugar and butter would be examples of variable costs.
Fixed costs are cost that remain constant no matter the amount of output. Fixed costs examples are rent, loan, salaries.
Variable costs are cost which change with a change in output as the business provides more services. Variable cost examples are cost of raw materials, commissions and so on.
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Answer:
D
B
C
Explanation:
Federal purchases are purchases of goods and services and it is required that the government receives a good or services in return, whereas federal expenditures is the sum of government purchases including transfer payments.
In relation to GDP, Federal purchases have decreased by almost half since 1960.
In relation to GDP, Federal expenditures have increased since 1960.
Answer:
The correct answer is personality.
Explanation:
Questionnaires or personality tests have been designed for the evaluation of an individual's personality. From all the definitions of personality we can conclude that personality is a construct that gives unity to all the psychological manifestations of man. These manifestations can be directly observable or external (body movements) such as indirectly observable or internal (thoughts, emotions, values, etc.).
Answer:
(A) $500 million
(B) This type of analysis is used to show that Special Interest Groups tend to press the government for TRANSFERS instead of ECONOMIC GROWTH.
Explanation:
1/10,000 of the real GDP is = $50,000
RGDP = 50,000 ÷ 1/10,000
RGDP = 50,000 × 10,000 = $500,000,000
If special interest group Q would have to be indifferent (not care which policy is applied at the given time) between the 2 policies, then the economic growth policy would have to increase the size of the RGDP (the economic pie) by an amount sufficient enough for them to get their net benefit of $50,000.
The RGDP figure above ($500 million) is the amount by which RGDP (real gross domestic product) should grow, if Group Q will still get their net benefit when only the economic growth policy (EGP) is applied.
In this case, the EGP applied in place of the TP (transfer policy) would still fetch Group Q the minimum net benefit of $50,000
(B) This type of analysis is used to show that Special Interest Groups tend to press the government (policy makers and enforcers) for TRANSFERS instead of ECONOMIC GROWTH.
Answer: Option (b) is correct.
Explanation:
Correct : by eliminating the need to travel to stores to shop.
Internet literally reduced the search cost by saving the travel time of the consumers to the shopping stores. Now days, almost all the consumers prefer to buy products online instead of travelling here and there for the products.
Buying products from the stores involves certain costs such as travelling cost, waste of time, miscellaneous,etc.
Hence, internet facility helps in reducing these kind of costs, that's why in today's world mostly people rely more on internet for shopping and all instead travelling to the stores.
