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3 years ago

What is trade in economics

Business

2 answers:

NeTakaya3 years ago

6 0

Answer:

Trade is a basic economic concept that involves the buying and selling of goods and services, in which compensation is paid by a buyer to a seller, for goods or services or the exchange of goods or services between parties(which is known as trade by barter )

Explanation:

sp2606 [1]3 years ago

4 0

Answer: Trade means we give some thing for some thing else

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Suppose there is a major technological issue in the production of a good that causes production costs and prices to rise. If dem

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If the market for a good that sees its production costs and prices rise is inelastic, the quantity demanded will not change.

<h3>What is inelastic demand?</h3>

A good that has inelastic demand is one that will not see its demand change much when there is a price change.

This means that demand remains more or less the same even if prices rise. Examples of such goods are water and food. The product above will therefore not see its demand change by much.

Find out more on inelastic demand at brainly.com/question/24384825.

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2 years ago

Which of the following from the institutional view is true about the two essential dimensions of organization? a. The technical

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Answer:

The institutional structure is that part of the organization most visible to the outside public

Explanation:

An organization ecosystem is defined simply as a system formed by the relationship or interactions of a community of organizations and their environment.

Organizational niche:

is simply an area, region or domain of unique environmental resources and needs.

An Organization is simply defined as a body or and entity that have clear inside/ outside boundary that work towards an explicit aims.

The institutional view is of the notion that when an organizational field is just getting started, diversity is the norm, but later there is a push for similarity.

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3 years ago

Why might complaints of age discrimination grow when the economy is slow? companies work very hard to retain their best talent i

siniylev [52]

Companies may try to lower their labor costs by laying off higher paid workers.

Typically the higher paid workers will be professionals who have worked their way up over time and tend to be older, while younger workers fresh out of school and looking for their first jobs will be more willing to take lower salaries.

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3 years ago

The Shapely Company uses the high-low method to determine its cost equation. The following information was gathered for the past

Naddik [55]

Answer:

$633,000.

Explanation:

We use the High-low method to get the cost formula:

$\left[\begin{array}{ccc}High&14,250&710,000\\Low&9,250&570,000\\Diference&5,000&140,000\\\end{array}\right]$

This means 5,000 machine hours generate 140,000 labor cost

We divide and get the variable cost generate per machine hour:

Cost 140000

machine hours 5000

140,000/5,000 = 28

variable cost 28

Next, we use this to calculate the fixed cost:

total cost = variable cost + fixed cost

fixed cost = total cost - 28 X DL

Total Cost 710,000

Variable 399,000 (14,250 x 28)

Fixed Cost 311,000

Total Cost 570,000

Variable 259,000 (9,250 x 28)

Fixed Cost 311,000

Now with the cost formula we solve for 11,500 machine hours

cost = 311,000 + 28 X Machine Hours

cost = 311,000 + 28 x 11,500

cost = 633,000

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3 years ago

identify the reason(s) that accountants use a sales returns and allowances account: multiple select question.

Sloan [31]

The reason(s) that accountants use sales returns and allowances account to keep a complete record of sales returns and allowances to calculate operating efficiency.

An accountant is a practitioner of accounting or accountancy. Accountants who have verified competency through their expert associations' certification exam ·rely on ·ing ə-: the device of recording and summarizing commercial enterprise and monetary transactions and reading, verifying, and reporting the effects. also: the principles and tactics of this gadget. they studied accounting as a freshman. : work executed in accounting or by using accountants.

An Accountant facilitates agencies making critical monetary decisions by collecting, tracking, and correcting the corporation's budget. they may be accountable for economic audits, reconciling financial institution statements, and making sure financial information is correct for the duration of the yr.

Learn more about accountants here: brainly.com/question/25568979

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1 year ago

What is trade in economics​

What is trade in economics