A surplus of a product will arise when price is, above equilibrium, with the result that quantity supplied exceeds quantity demanded.
<h3>What will a surplus of a product lead to?</h3>
The amount of utility or value that consumers and producers receive as a result of transactions is referred to as surplus in economic theory. Karl Marx explicitly theorized the economic idea of surplus product in his critique of political economy.
When the amount supplied exceeds the amount required, there is an excess supply, which is known as a market surplus. Consequently, some producers won't be able to sell all of their products. To make their goods more appealing, they will be compelled by this to reduce its price. Every producer and consumer in an economy seeks to increase excess in order to increase utility.
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The best answer is letter a.<span> It downplayed the role of government in stimulating economic growth.</span>
>>The main goal of mercantilism was to increase a nation's wealth by imposing government regulation concerning all of the nation's commercial interests.
It sticks to the belief that the national strength can be maximized by limiting imports<span> via </span>tariffs<span> and maximizing </span>exports.<span>
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Business consultant Peter Drucker said that the most important factor of production is knowledge.
Answer:
Variable overhead efficiency variance= $558 favorable
Explanation:
Giving the following information:
Variable overhead 0.60 hours $ 3.10 per hour
Actual output 4,100 units
Actual direct labor-hours 2,280 hours
<u>To calculate the variable overhead efficiency variance, we need to use the following formula:</u>
Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate
Variable overhead efficiency variance= (0.6*4,100 - 2,280)*3.10
Variable overhead efficiency variance= $558 favorable
<span>The three types are Pass Bill, More importance to Funding to foreign aid and work with other government and international organisations.
The fist one pass bill, US government always take responsibility to pass bill to reduce global poverty. The second one concentrate on foreign funding is increased by getting more donors is used to develop the nations. The last one is work with others, supports collaborations and partnership is used to give more power to the US.</span>
