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3 years ago

Match the correct economic terms to their descriptions.

Business

2 answers:

Troyanec [42]3 years ago

8 0

Answer:

monetary policy, Federal reserve’s tool to influence the money supply in the economy

factor market, A market where firms buy services related to production

product market, A market where finished goods and services are traded

fiscal policy, Federal government’s way to influence the economy through taxes

Explanation: I looked up the deffinitions, because the other answers did not seem right to me.

Sauron [17]3 years ago

7 0

Answer:

Monetary policy : Federal reserve’s tool to influence the money supply in the economy

Fiscal policy :Federal government’s way to influence the economy through taxes

Factor market : a market where firms buy services related to production

Product market: a market where finished goods and services are traded

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The correct answer is option b.

Explanation:

Mathew bakes and sells apple pies. Apple here is used as an input. If the price of apple increases, it means the cost of producing apple pies is increasing as well.

At the given cost the firm will be able to produce fewer apple pies. This will cause a reduction in the supply of apple pies. Consequently, the supply curve will shift to the left.

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3 years ago

Largo Company has unit costs of $10 for materials and $30 for conversion costs. If there are 2,500 units in ending work in proce

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Answer:

$55,000

Explanation:

Calculation for the total cost assignable to the ending work in process inventory

First step is to calculate the ending Materials Cost:

Ending Materials Cost = [(2,500 units × $10]

Ending Materials Cost = $25,000

Second Step is to calculate the ending Conversion Cost:

Ending Conversion Cost = [(2,500 units × 40%) × $30]

Ending Conversion Cost = [(1,000) × $30]

Ending Conversion Cost = $30,000

Last step is to calculate the total cost assignable to the Ending work in process inventory cost using this formula

Ending work in process inventory cost = Ending Materials Cost + Ending Conversion Cost

Let plug in the formula

Ending work in process inventory cost = $25,000 + $30,000

Ending work in process inventory cost = $55,000

Therefore the total cost assignable to the ending work in process inventory is $55,000

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What does the purchaser of a product obtain besides the good service or idea itself?

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It is getting favored more ideal arrangement over another, but we have near the no experience with the overall thriving created by the trade or prosperity produced by the exchange.

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