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3 years ago

What is an economic system? Give two examples.

Business

2 answers:

Alexeev081 [22]3 years ago

8 0

Answer:

An economic good is a physical object or service that has value and can be sold; some examples include bananas, toys, haircuts, and cars. Economic systems are the means by which countries and governments distribute resources and trade goods and services. They are used to control the five factors of production, including labor.

Explanation:

Anit [1.1K]3 years ago

6 0

Answer:

<h2>there are many economic system used throug the world.some example are socilaism,communism,and cappitism the United States has capitlastic system</h2><h2> $mark \: me \: brailest$ </h2>

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ZanzabumX [31]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Variable costs per unit:

Direct materials $ 11

Direct labor $ 6

Variable manufacturing overhead $ 3

Variable selling and administrative expenses $ 6

Fixed costs per year:

Fixed manufacturing overhead $ 58,500

Fixed selling and administrative expenses $ 300,000

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1) Variable costing;

Unitary cost:

Direct materials $ 11

Direct labor $ 6

Variable manufacturing overhead $ 3

Total unitary cost= $20

Cost of unsold units= 20*3750= $75,000

2) Under absorbing costing:

Unitary cost:

Direct materials $ 11

Direct labor $ 6

Variable manufacturing overhead $ 3

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Total unitary cost= $22

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