Answer:
production of different types will compete for limited resources.
Explanation:
The production possibilities model is also known as the Production–possibility frontier. It is the visual model of efficiency and scarcity. It provides the concept of how the economy can change things by using two goods as an example. It determines the trade offs that is associated with the allocation of the resources between the production of the two goods.
The production possibilities curve or model shows the inverse relationship between the two goods and the services as producing different types of products or services will complete for the limited resources available.
An economy has a very limited economic resource and therefore it can produce more number of one good by making only less of some another good.
Answer:
Explanation:
if the question is select multiple answers then both A and C. if it is just one answer then A.
Answer:
1. Manufacturing cost per visor us $16.50
2.budgeted cost of goods for may and June is $9594. & $6724 respectively
Explanation:
See attached files
Answer:
The relevant costs to go into this schedule of cost of contract services performed will be those that are directly related to contract work.
Administrative costs are not to be included in the schedule but will instead go to the Income statement.
To approximate the size of USA in relation to Ethiopia we proceed as follows:
Size of Ethiopia GDP in 2017=$ 76.9x10^9
Size of USA GDP=19.6x10^12
thus the scale factor of USA to Ethiopia will be:
19.6x10^12/76.9x10^9
=254.9
this can be written as a whole number to be
255
the economy of US is 255 times that of Ethipia
