Answer:
D
Explanation:
Per capita GDP measures the standard of living of the people in a country. The higher the Per capita GDP, the higher the standard of living
Per capita GDP = GDP / population
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
South Korea operates a market economy compared with North Korea. A market economy leads to greater efficiency in production when compared with a command economy.
A market economy is an economy where production decisions are made by the forces of demand and supply. there is no intervention of the government in production decisions
Characteristics of a market economy
• Private ownership of means of production
• freedom of choice. Producers are free to produce what they desire
• competition among producers
• no government intervention.
A command economy is an economy where production decisions are made by the government.
B - The wealth of nations
in this book he explains his theories about the invisible hand and free market economies
The four toys were all marketed for a new kids movie that was coming out, so a lot of kids wanted those four toys becase they had already seen the movie.
Mins of meeting must to held
Opening prayer
Introduction of last discussion
Answer:
c. Increase of $192,500
Explanation:
Note: The full question is attached
Particulars Luxury Amount$
Sales $950,000
(380000*250/100)
Less: Variable cost $612,500
(245000*250/100
) <u> </u>
Total contribution $337,500
Less: Fixed expenses <u>$80,000 </u>
Net Operating Income <u>$257,500</u>
Change in Operating Income = New Profit - Existing profit = $257,500 - $65,000 = $192,500
Hence, there is an increase of $192,500