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2 years ago

Which of the following statements is NOT true?

Business

1 answer:

Anna71 [15]2 years ago

6 0

Answer:

D. Economics does not use theories.

Explanation:

Economics is the study of : limited resource allocation, having alternative uses - to satisfy unlimited wants.

Economics is both a science (empirical science) & art (social science).

Economics has generally accepted rules & laws, based on experimentation - like Empirical Science. Eg: Law of Demand stating inverse relationship between price & quantity demanded.

Economics has subjective application essence to solve economic issues - like Social Science / art. Eg: Contractionary monetary policy (reducing money supply) to solve inflation (high price level)

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Treetopplers, a U.S. lumber company, produces wood at a plant in Oregon on September 13, 2017. It sells the wood to Buildit and

Iteru [2.4K]

Answer:

The answer is: Treetopplers's wood production is not included in the GDP

Explanation:

The GDP includes all the domestic production of final and legal goods and services.

The value of final goods is included, but not the parts that go into them (intermediate goods). In this case, the wood Treetopplers produce is used by other companies (e.g. Buildit and Partners) to build final goods such as new houses. So the wood is an intermediate good.

4 0

3 years ago

The variety of Riverside Ranger logo T-shirts includes 12 different designs. Setup between designs takes one hour (and $18,000),

cluponka [151]

Answer:

The production exhibit both scope economics and scale economics. They are not mutually exclusive.

Explanation:

Looking at the scenario critically, we will clearly see the tendency of a scope economics. Scope economics basically hinges on getting a competitive advantage, essentially because of producing in large quantities and numbers. Riverside Ranger logo T-shirts exhibits this as it produce its products in large numbers, producing 1000 pieces of a particular design in 1 hour.

In same breath, we also have the scale economics exhibited by the organization. Taking a deeper look at the cost representation, we will see that the average cost tend to reduce as the production increases. Thus, an economic of scale is achieved here by leveraging on the mass and swift production style of Riverside Rangers logo T-shirts.

7 0

3 years ago

Which of the following is a condition in the general environment that if exploited effectively helps a company reaches strategic

valentina_108 [34]

Answer:

The correct answer to the following question will be "Opportunity".

Explanation:

A market opportunity to sell or contract any commodity, facility, facilities, etc. that will allow the buyer-licensee to set up a business.
The licensor of a marketing opportunity usually announces that he or she will protect or support the purchaser in finding a suitable destination or deliver the commodity to the cardholder-licensee.

Therefore, Opportunity is the right answer.

5 0

3 years ago

Xinhong Company is considering replacing one of its manufacturing machines. The machine has a book value of $38,000 and a remain

irina [24]

Answer:

Alternative A should be accepted as it is giving favourable result of $30,600

Explanation:

Xinhong Company

ALTERNATIVE A: INCREASE OR (DECREASE) IN NET INCOME

Cost to buy new machine $123,000

Cash received to trade in old machine $48,000

Reduction in variable manufacturing costs = 4*($33500 - $22400) = $44,400

Total change in net income $30,600

ALTERNATIVE B: INCREASE OR (DECREASE) IN NET INCOME

Cost to buy new machine $119,000

Cash received to trade in old machine $48,000

Reduction in variable manufacturing costs = 4*($33500 - $10300) = $92,800

Total change in net income $21,800

Therefore, Alternative A should be accepted as it is giving favourable result of $30,600

4 0

3 years ago

Winter Company earned revenues of $150,000 in cash and $200,000 on account during 2018. Of the $200,000 on account, $63,000

ICE Princess25 [194]

Answer:

$235,000

Explanation:

Under the accrual accounting system, expenses are recognized in the period incurred and not necessarily in the period cash is paid.

Revenue is also recognized in the period earned and not necessarily when cash is collected.

Total revenue in 2018 = $200,000 + $150,000

= $350,000

Net income is the difference between the revenue and expense

Net income in 2018 = $350,000 - $115,000

= $235,000

8 0

3 years ago