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kotykmax [81]
3 years ago
9

Acme Furniture Manufacturers has just purchased a large supply of exotic lumber that is ready for use in their new line of furni

ture. This purchase BEST represents which of the factors of production?
Business
1 answer:
sertanlavr [38]3 years ago
6 0

Answer:

Land

Explanation:

Land represent the best factor of production in the given scenario of purchase.

There are four factor of production:

1) Land: It provide space or place to produce goods and service, however, cost has to be incurred by the firm in the form of rent or lease amount.

2) labor: It is a variable factor of production and it is measured by the amount of work done by human. Wages are paid in return of work done by labor.

3) Capital: The amount incurred in establishing the business or production house.

4) Entrepreneurship: It is the person who manage all other factor of production or the one who establish the business and operating it.

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Ron Johnson, JCPenney’s former CEO, had a vision to make Penney hipper, and he changed long-held strategies and management pract
Thepotemich [5.8K]

Answer:

C. innovative change

Explanation:

The type of changes that Ron Johnson implemented in order to make JCPenney hipper can be described as innovative change. This term refers to changing or reimagining something in a new, creative and unexpected way with the goal of being successfull by meeting existing market needs. Which is what Ron is trying to accomplish in this scenario.

5 0
3 years ago
When a bank keeps $12 from a $100 deposit as legal reserves, it is using
vitfil [10]
When a bank keeps $12 from a $100 deposit as legal reserves, it is using <span>a fractional reserve system. The correct option among all the options that are given in the question is option "b".

</span>The Fed has defined different categories of money, M1 and M2, according to the money's function. The correct option among all the options <span>that are given in the question is option "b".</span>
6 0
3 years ago
Your classmates are planning to go to Miami for spring break, and you are undecided about whether you should go with them. The r
MaRussiya [10]

Answer:

You should use the discount coupon to pay for the Miami trip. Not considering the personal motivations for the trip, the coupon is worth $500. The cost of flying is $600, so you will only pay $100 yourself. You will be spending $900 + $1000 = $1,000 in total.

The opportunity cost of using the coupon is $350 (the cost of the round trip to Atlanta). Even if you add the $350 to the $1,000 expense, the total is $1,350, less than your $1,400 maximum budget.

3 0
3 years ago
After conducting a market research study, Stewart Manufacturing decided to produce a new interior door to complement its exterio
s344n2d4d5 [400]

Answer:

The target cost for each interior door $96 per door.

Explanation:

Target Price = $120

Target Sales volume = 20,000

Rate of return = 20%

Total Target sales = 20,000 x $120 = 2,400,000

Total return = 2,400,000 x 20% = 480,000

Total Cost = Total Target sales - Total Target return

Total Cost = 2,400,000 - 480,000 = 1,920,000

Target cost per door = 1,920,000 / 20,000 = $96 per door

3 0
4 years ago
Consumer mobility refers to the idea that consumers like to find the same products everywhere. An example of a company that sell
dedylja [7]

Group of answer choices.

a. McDonald's Restaurants.

b. Intercontinental Hotels.

c. Fuji Film.

d. All of the above

e. None of the above

Answer:

d. All of the above

Explanation:

A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.

Consumer mobility can be defined as an idea or situation in which consumers of goods and services like to find the same products they have interest in everywhere i.e across the world.

In this context, some example of a company that sells its products everywhere in the world due to the fact that its customers are found all over the world are: McDonald's Restaurants, Intercontinental Hotels, Apple Inc., Microsoft Inc., and Fuji Film.

8 0
3 years ago
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