The items that describes what happens at the equilibrium price are:
Producers supply the exact goods that consumers buy.
Consumers have enough goods, at the given price.
Producers used their resources efficiently.
Equilibrium pricing is when the items demanded match the items supplied. When this happens, the demand and good available equal each other, hence, equilibrium. The pricing is exactly where it should be for consumers to want and purchase the good or service.
Answer:
Direct.
Explanation:
No intermediaries are used to provide goods and services to customers
. Typically seller is the manufacturer or an individual.
The skills embodied in workers through experience, education and on-the-job-training are known as human capital.
<h3><u>
What is human capital?</u></h3>
- Social scientists refer to personal qualities seen to be helpful in the manufacturing process as "human capital." It includes the education, health, and knowledge of the workforce.
- Individual incomes are significantly impacted by human capital. According to research, making investments in human capital pays off handsomely throughout youth and young adulthood.
- Through education and training, for instance, businesses can invest in human capital, enabling higher standards of quality and output.
Paul Romer, who created the current innovation-driven approach to comprehending economic growth, was jointly awarded the 2018 Nobel Prize for Economics as a result of his conceptualization and modeling work incorporating Human Capital as a crucial aspect.
Know more about human capital with the help of the given link:
brainly.com/question/1415400
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Hey there
the answer is
Growth normally refers to increase in the size of the system, while "development" usually refers to improvement
thank you
OFFICIALLYSAVAGE2003
Answer:
The total product costs is $2,050
Explanation:
Given cost:
Ribs cost = $1,400
Labor cost = 45 hours × $10 per hour = $450
Seasoning and Sauce cost = $50
Advertising = $300
Grill cost = $150
Administrative cost = $100
By using these cost, we can easily compute the total product cost.
The product cost is that which is attached to the product. It can be direct material, direct labor, etc.
So product cost = Rib cost + Labor cost + Seasoning and Sauce cost + Grill cost
= $1,400 + $450 + $50 + $150
= $2,050
Other cost is not considered because they are related to general & administrative cost, selling cost which termed as period costs.
So, the total product costs is $2,050
