The three most frequent misconceptions are that net income equals cash, net income excludes estimates, and net income reports all changes in value that occurred during the accounting period.
One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The balance sheet and the cash flow statement are the other two important statements. The income statement, which is often referred to as the profit and loss (P&L) statement or the statement of revenue and expense, primarily focuses on the company's revenue and expenses over a specific time period. Understanding how to study an income statement is the greatest approach to evaluate a business and choose whether or not to invest.
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In simpler terms, the theory of comparative advantage refers to the possibility of one given economic actor to produce the same good which is of the same size and quality. This becomes a force behind trade because there are specific materials that are found in specific area in the Philippines only.
Doing trading is I think is better than being self-sufficient .
1. When Tonya chose the chicken sandwich, her opportunity cost was the burger.
2. When Jimmy chose the licorice, his opportunity cost was the jelly beans. (It's the jelly beans since the nut clusters are not included in the next alternative because of his allergies to it.)
3. When Mary chose the jacket, her opportunity cost was either the dress or the shoe, whichever was her next best alternative. (The statement does not give enough information to identify her opportunity cost. It could not be both since an opportunity cost is the next <em>best</em> alternative and not <em>all</em> alternatives.)
4. When Joe chose the Ford truck, his opportunity cost was the Chevrolet.
5. When the city council chose to build the music stage, their opportunity cost was the wading pool. (The parking lot which people would have wanted is not considered because we are talking about the City Council's opportunity cost.)
Answer: Option(d) is correct
Explanation:
According to the question, increasing taxes along with increasing amount given to poor ,ill or other severe-conditioned people by government can impact the people by increment in equality state at the cost of efficiency. Efficiency of society will be at hold while equality through providing payment ,service and health care is raised in this situation.
Other options are incorrect because free lunch, reduction in power of market and increment in efficient at cost of equality will not take place if taxes are raised with pay of welfare.Thus, the correct option is option(d).
Answer:
B. increase in output obtained from a one unit increase in labor
Explanation:
Marginal product is the change in output as a result of a change in factor input such as labor (L) or capital (K).
Marginal product of capital is the change in output resulting from a change in capital.
It can be calculated by :
Marginal product of capital (MPK)= change in output/change in capital
That is,
MPK=∆Q/∆K
Marginal product of labor is the change in output when additional labor is added. Only labor changes in marginal product of labor. It can be calculated by
Marginal product of labor (MPL)= change in output/change in labor
That is,
MPL=∆Q/∆L
