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3 years ago

High quality goods and services are made available to consumers because of producers __________.

Business

2 answers:

astra-53 [7]3 years ago

8 0

Answer:

answer is d !

Explanation:

trapecia [35]3 years ago

4 0

Answer:

b. Would like to compete

d. specilize in production

Explanation:

Competition is when businesses selling similar products, in the same market, try to outsell each other through winning more customers. When businesses compete, consumers benefit through fair prices and higher quality goods. Competing businesses innovate and create products with a high utility value to attract more customers. As a result, they offer customers products and services of high quality.

A business that engages in a specialization produces fewer varieties of products. It focuses on manufacturing goods and services that it has a comparative advantage. Due to specialization, the firm and its employees become experts in producing its products of choice. Consequently, it offers goods and services that are of a higher quality than a business that does not specialize.

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On Aug. 6, D submitted an application for a $50,000 Life insurance policy and did not pay the initial premium. On Aug. 18, D wen

MAXImum [283]

Answer:

B) collect initial premium along with a signed health statement

Explanation:

Since D submitted an application before he suffered from chest pains, then the producer should collect the initial premium. But the producer must also request a signed health statement which details the previous incident and what the doctor thought about it, and the tests that he requested.

5 0

3 years ago

The adjusting entry to adjust supplies was omitted at the end of the year. This would affect the income statement by having expe

creativ13 [48]

Answer:

This would affect the income statement by having expenses

c. understated and therefore net income overstated revenues

Explanation:

Adjusting Entry:

It is such entry which is added at the end of the fiscal period in order to make the income statement accurate.

Overstated:

In Accounting, overstated amount means that amount is greater than the true amount.

Understated:

In Accounting, if an amount is less than the true amount then it is known as understated.

As in our case, the adjusting entry for supplies was not added so in this way expenses became understated means they become less as compared to actual expenses. Therefore, revenues overstated.

5 0

3 years ago

Read 2 more answers

The three financial ratios that constitute return on revenue are Cost of goods sold/Revenue, Research and Development expense/Re

stiv31 [10]

The three financial ratios that constitute return on revenue are Cost of goods sold/Revenue, Research and Development expense/Revenue, and Selling, general, & administrative expense/Revenue.

What ism financial ratios?

Financial ratios are instrument used by companies to make comparison or to measure the relationship between different financial statement information or data.

Hence, the three financial ratios that constitute return on revenue are:

Cost of goods sold/Revenue
Research & Development expense/Revenue
Selling, general, & administrative expense/Revenue

Learn more about financial ratios here:brainly.com/question/9091091

#SPJ1

6 0

2 years ago

A manufacturing company that produces a single product has provided the following data concerning its most recent month of opera

ZanzabumX [31]

Answer:

$71,240

Explanation:

The computation of the total gross margin under absorption costing is shown below:

As we know that

Gross Margin = Sales - Variable Manufacturing Cost - Fixed Manufacturing Overhead For Units Sold

Sales (2,740 units × $131) $358,940

Less Manufacturing Costs

Direct Materials (2,740 units × $44) $120,560

Direct Labor (2,740 units × $19) $52,060

Variable Manufacturing Overhead (2,740 units × $13) $35,620

Fixed Manufacturing Overhead ($85,260 ÷ 2,740 units ÷ 2,940 units) $79,460

Gross Margin $71,240

We simply applied the above formula

6 0

4 years ago

Consider the market for a breakfast cereal. The cereal's price is initially $3.003.00 and 7070 thousand boxes are demanded per

arlik [135]

Answer:

0.539

Explanation:

Price elasticity of demand measure the responsiveness of demand against the change in price of the product. It shows how much demand changes if there is the change in price.

Under mid-point method the price elasticity can be calculated as follow

where

S = Quantity

P = Price

Change in Quantity = ( S2 - S1 ) / [ ( S2 + S1 )/2 ]

Change in Quantity = ( 6,060 - 7,070 ) / [ ( 6,060 + 7,070 )/2 ]

Change in Quantity = -1,010 / 6,565

Change in Quantity = -0.153846

Change in price = ( P2 - P1 ) / [ ( P2 + P1 )/2 ]

Change in price = ( $4,004 - $3,003 ) / [ ( $4,004 + $3,003 )/2 ]

Change in price = $1,001 / $3,503.5

Change in price = 0.285714

Elasticity of Supply = Change in Quantity / Change in Price

Elasticity of Supply = -0.153846 / 0.285714 = -0.5385

Elasticity of Supply = -0.539

3 0

3 years ago