Answer:
C. Private limited company
Explanation:
Ownership in a private limited company is restricted, unlike in a public limited company. The shareholders of a private limited company are usually family members, close friends, or people with a shared interest.
A private limited company can raise capital by selling additional shares. Because becoming a shareholder in a private limited company is restricted, private companies raise capital by selling shares to existing shareholders or to invited investors.
Answer:
The product cost for 24,500 units is $497,350.
Explanation:
The reason is that the the product cost always includes all the variable production cost and specific fixed production cost. In this scenario, direct material cost, direct labor cost, variable manufacturing overhead cost are variable production cost whereas the fixed manufacturing cost is specific fixed production cost which will form part of product cost. The remainder of the cost left is period cost.
Direct materials (24,500 * $7.7 per unit) $188,650
Direct labor (24,500 * $4.7 per unit) $115,150
Variable manufacturing overhead (24,500 * $2.2 per unit) $53,900
Fixed manufacturing overhead (24,500 * $5.7 per unit) <u>$139,650 </u>
Total product costs $497,350
<h3>The short-run aggregate supply curve shows the relationship between the price level and aggregate expenditure
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Explanation:
A short-run aggregate supply curve (SRAS) is a graphical model that shows the positive relationship between aggregate price level and aggregate production amount supplied in an economy. The short-run aggregate supply curve is sloping upward as the supplied quantity increases as the prices increase.
The short-run aggregate supply curve captures the relationship between the actual output and the price level. True production becomes bigger as the price level increases. As the price level decreases, actual production decreases too.
Answer:
The correct answer is d. Free enterprise.
Explanation:
Henry Robinson Luce was known as an American publisher and journalist. They gave him the name of "the most influential private citizen in the America of his day". This magnate published what is called “The American Century.” “The American Century” also showed “the vision of America as the dynamic leader of world trade,” and this guy Henry Luce could not have fathomed any economic basis for national leadership besides “free enterprise.”
Answer:
Authority - Responsibility Balance & Incentive Development.
Explanation:
Authority refers to the power to command, give orders to somebody. And enjoying the position of having right to get it obeyed.
Responsibility refers to being in a position of accountability, answerability for an allocated task or job & its performance.
For Eg : A manager given responsibility to complete a task of production targets achievement, is also given authority to command the entire staff at the production site.
Joe had problem while working for someone else that :- he had responsibility to complete employers allocated task, but may be not given enough authority to do so, thats why he felt he is being 'commanded by, working for' someone else. Also, he doesn't owe the rewards of his acts, so lacks incentive.
Being an entrepreneur will entitle him with managerial responsibilities, but at the same time will also give him higher authority to take his own independent decisions. And, he is himself responsible for his acts, will bear losses or enjoy profits for himself. So, it also incentivises him to work for himself.
