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3 years ago

If a society decides to produce consumer goods from its available resources, it is answering the basic economic question,

Business

1 answer:

dexar [7]3 years ago

6 0

Answer:

What to produce?

Explanation:

What to produce?

Due to the fact that resources are scarce, a producer has to decide what he wants to produce.

In the question above, the consumer has decided to produce consumer goods.

How to produce?

The producer has to decide on the optimal production method to employ. It has to decide whether a labour or technology intensive production method would be better .

For whom to produce?

A producer has to answer this question in order to be able tailor his product to perfectly suit his target customers. The producer has to decide if to produce for young people, middle aged people or the elderly or sell to the poor or rich.

I hope my answer helps you

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The following monthly data are available for Coronado Industries. which produces only one product: Selling price per unit, $38;

In-s [12.5K]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Selling price per unit= $38

Unit variable expenses= $14

Total fixed expenses= $42,000

Actual sales for June= 3000 units.

First, we need to calculate the break-even point in dollar using the following formula:

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 42,000/ [(38 - 14)/38]

Break-even point (dollars)= $66,500

Now, we can calculate the margin of safety in dollars:

Margin of safety= (current sales level - break-even point)

Margin of safety= (3,000*38 - 66,500)

Margin of safety= (114,000 - 66,500)

Margin of safety= $47,500

5 0

3 years ago

________ is the ability of a country to produce a specific good at a lower opportunity cost than its trading partners.

Maslowich

Comparative advantage

3 0

3 years ago

Which action will help increase a low FICO score?

Andreas93 [3]

Reducing credit card balances is the action will help increase a low FICO score.

The FICO mortgage score is between 300 and 850. Higher scores indicate lower credit risk. Each individual actually has 65 credit scores for the FICO scoring model because each of three national credit bureaus, Equifax, Experian and TransUnion, has its own database.

8 0

2 years ago

Sanjay is a manager at Ridgeway Appliance Corp. and is responsible for helping the company reach its goal of purchasing a manufa

xeze [42]

Answer:

effectiveness

Explanation:

Effectiveness is the essential pillar of business management. Commonly mistaken for efficacy, it isn't quite the same thing. Effectiveness is doing the right thing that helps achieve business goals, while efficacy is how the practice is performed, rationally using available resources. Since the example emphasizes Sanjay's plan that will help the company reach business goals, it is an effectiveness example.

3 0

3 years ago

Gulliver, Inc., which uses a process-costing system, transfers completed production from Department no. 1 to Department no. 2 fo

12345 [234]

Answer:

d. Work-in-Process Inventory: Department no. 2.

Explanation:

The profuct is Transferred from Department 1 to Department 2. The cost in in the work in process of Department 1 which will be trasnferred to next department.

Following Journal entries will be recorded for this event.

Dr. Cr.

Work-in-Process Inventory: Department no. 2. xxx

Work-in-Process Inventory: Department no. 1 xxx

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3 years ago