Answer:
Allocative efficiency is about distributing or allocating resources in the best possible manner. E.g. in order to fight the current pandemic, more resources ($) is allocated to different health care institutions.
Productive efficiency is about how a company or a person uses the resources that it has in order to produce the greatest amount of benefits at the lowest possible cost. E.g. in a hospital, if a doctor is able to treat 15 patients per day, his/her productive efficiency will be higher than another doctor that only treats 10 patients per day.
Answer:
maximum amount in dollar is payable = $344000
so correct option is a. $344,000
Explanation:
solution
we find here premium that is paid here
premium paid = 200000 pounds × $0.04
premium paid = 8000
and
amount payable in Dollar for 200000 pounds is
amount payable in Dollar = 200000 × $1.68
amount payable in Dollar = $336000
so whatever is happen in market
maximum amount in dollar is payable is
maximum amount in dollar is payable = $336000 + $8000
maximum amount in dollar is payable = $344000
so correct option is a. $344,000
Answer:
c) A heuristic
Explanation:
Price is a decision heuristic a shortcut to simplify and shorten the decision process. You get what you pay for is related to this heuristic.
Answer:
A. target costing
Explanation:
To make the new price level profitable, ConAgra Foods used target costing.
Target costing may be seen as an accountancy approach during which companies set targets for costs supported the worth prevalent within the market and therefore the margin of profit they need to earn. Keeping its costs below the relevant targets helps the businesses to get profit.
Target cost = selling price – margin of profit
Profit margin could also be supported cost or selling price .
In most of the industries competition is high which suggests that prices are determined by the interaction of market demand and provide which the market participants i.e. producers can’t change. However, they will control their costs.
Answer:
Job responsibility, required experience and adverse working conditions are factors considered when establishing a fair wage for a specific career.
Explanation:
The level of salary that a person will receive as a result of their job benefits is determined by a multiplicity of factors. Mainly, the degree of technicality required and the studies that are necessary to get to exercise a profession are fundamental: thus, an engineer is much better paid than a waiter, for example.
Now, within the same profession there are different factors that can influence the determination of the value of wages. For example, the greater the degree of responsibility, the higher the salary, as it carries a greater stress load and mental and intellectual presence than other lesser positions.
Another factor is experience: in certain jobs, experience as a source of knowledge and demonstration of expertise is paid extra, increasing workers' wages.
Finally, another factor that can influence a worker's salary is unhealthy employment: a job performed in adverse conditions implies an extra risk to the worker, with which the salary tends to rise to compensate for those risks.