Answer:
Factors of production
Explanation:
The general name is factors of production. They are also the 'inputs' in the production process.
The factors of production are combined or put together for the productions of goods and services to happen. The four factors include land, which represents the natural resources in this case.
<u>Land</u> refers to the space used to set up a business, and fertile lands used for agriculture, minerals, oil and gas, forest, and other natural resources.
<u>Labor </u>is the human input in production. It involves workers' knowledge, skills, strength, and time spent on the production process.
<u>Capital </u>is the money and assets used to start and maintain the business operation. It includes plant and machinery, equipment, building, factories used in making products for sale.
<u>Know-how </u>refers to entrepreneurship. It is the skills, willingness, and ability to put together and manage the other factors to produce goods.
Factors used in producing goods or providing services
Answer:
monopoly, but self-interest often drives them closer to the competitive outcome.
Explanation:
An oligopoly exists when a small number of firms control the resources and price in a market.
They tend to stop each other from having significant influence in the market.
Because of this self interest their monopolistic attribute tends to become more towatds a competitive outcome.
So no one firm has the monopoly of the market rather influence is shared
Answer:
Debit Interest Expense, credit Cash and Discount on Bonds Payable.
Explanation:
The journal entry that a company needs to record for payment of interest is: a debit to the interest receivable account and a credit to the interest income account.
The journal entry that a company needs to record for interest expense is: a debit to interest expense and a credit to cash.
The journal entry that a company needs to record for interest expense is: a debit to interest expense and a credit to discount on bonds payable.
Answer: Gross pay- $1750.00
Net pay - $1,215.75
Explanation: Gross pay = Nomal time =$28*40= $1,120. Overtime = $28*1.5*15= $630 Total= $1,750
Net pay = $1,750 less Security tax, Medicare tax, federal income tax withheld.
$1750* 6.0%= $105
$1750* 1.5% = $26.25
Tax withheld= $403
Net pay= $1,750-$105-$26.25-$403
= $1,215.75
