Land, labor, entrepreneurship and capital are called factors of production since they are transformed into output during the production process.
Factors of production are needed for the production of goods or a service.
Land as a factor of production include the every type of land and the various goods received from it such as oil, gold etc. It can be agricultural land to any real estate commercial land.
While defining labor as factor of production we use their potential to work.
Capital includes money used for performing various functions of production. It is the primary driver of the production.
Entrepreneurship is that element which combines all other factors of production to form a single product or service.
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I don't have their number
Answer:
Sales
Explanation:
S stands for sales. The moving averages formula uses sales figures from the previous periods to forecasts future sales. For example,
say, sales for 2015 were 100; 2016 were 120; 2017 were 110; and 2018,..130. Using the formula, the forecast for 2019 will be
Forecast 2019 = Sales 2015 + Sales 2016+ Sales 2017+ sales 2019 / 4
Forecast 2019 = 100 + 120 +110 + 130 / 4
Forecast 2019=115
Answer:
The trade discount is the discount of 5% equivalent to $25,000
Explanation:
The question parameters are;
The cost of the car, c = $500,000
The amount the car's list price is discounted = 5%
The duration over which the payment for the car should be made to receive the discount = 1 year
Therefore, the trade discount is the 5% of the list price, which is equivalent to 5/100 × $500,000 = $25,000
A trade discount is a reduction of the retail price of a good which a wholesaler or manufacture of the good gives a trader, which may be a wholesaler or a retailer based on certain agreements, when a group of goods or a particular type of goods is purchased
Answer:
C) An increase in the price of tennis racquets
Explanation:
If tennis racquets become more expensive, the demand for them will decline, and people will try to supply this need with substitutes, for example, lacrosse raquets. The reason for this is that the classical supply and demand model tells us that demand and price are inversely correlated: if the price goes up, demand goes down, and viceversa.
