Answer:
A. Savings ratio
Explanation:
The savings ratio is expressed as a percentage and is computed by dividing average household savings by average household disposable income.
Answer:
. $45
Explanation:
Let X be the amount of equal charges per customer.
Therefore,
X-12+X-25+X-40+X=100.
4X-77=100
4X=177
X=44.25
Approximately $45
Factors of production are scarce in every society.
<h3>What are the factors of production?</h3>
Factors of production are the resources that are used in the production of goods and services. Factors of production are scarce and this is why it is important to use them in the activities that would maximise their use.
There are four factors of production in economics. They include - land, labor, capital and entrepreneurship.
Land includes all the natural resources that are used to produce goods and services e.g. gold mine. Labor is the human effort that is exerted in the production of goods and services. Capital includes machinery and man made resources used in production. An entrepreneur is a person who combines the other factors of production together
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Answer:
Store of value.
Unit of account.
Medium of exchange.
Explanation:
Store of value is an asset that can be restored and then traded with other things. When the assest is redeemed it is expected to be of great value. Also a store of value is anything that holds purchasing power in the future.
Unit of account is one of the primary functions of money. Also defined as the unit by which value of a thing is accounted and compared.
Medium of exchange occurs when there is any transaction between buyers and sellers.
Answer:
Expected number of orders=31.6 orders per year
Explanation:
<em>The expected number of orders would be the Annual demand divided by the economic order quantity(EOQ).</em>
<em>The Economic Order Quantity (EOQ) is the order quantity that minimizes the balance of holding cost and ordering cost. At the EOQ, the holding cost is exactly the same as the ordering cost.</em>
It is calculated as follows:
EOQ = (2× Co D)/Ch)^(1/2)
Co- ordering cost Ch - holding cost, D- annual demand
EOQ = (2× 10 × 100000/2)^(1/2)= 3162.27 units
Number of orders = Annual Demand/EOQ
= 100,000/3,162.27= 31.62 orders
Expected number of orders=31.6 orders per year
