Firms do create goods. Categories of manufacturing costs include direct labor, direct materials and manufacturing overhead.
<h3>What are manufacturing costs?</h3>
Manufacturing costs is grouped into materials, labor, and overhead. They are kinds of direct costs.
Manufacturing cost is known to be the amount of costs of all resources taken into the process of creating a product. The manufacturing cost is grouped into three categories called: direct materials cost, direct labor cost and manufacturing overhead.
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A bakery invests a portion of profits into sending its employees to a training on how to use more energy-efficient ovens that also can hold more baked goods. Hoping to achieve by investing in the training, the goal of the bakery is increase productivity. The new learning to employees will help them how to use more of the energy-efficient ovens and probably find a way that they won't have to waste more electricity and produce more baked goods.
The answer would be letter A.
Based on a historical perspective the one argument made for the construction of the Panama Canal is that "<u>it would allow ships to move swiftly from the Atlantic and the pacific in the event of a war."</u>
<h3>The Construction of Panama Canal.</h3>
The construction of the Panama canal was done in 1914 and covers about 82 km of waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean and splits up North and South America.
The Panama Canal construction was essential for the political economy of the United States it cuts across the Isthmus of Panama which serves as a conduit for maritime trade.
There are various reasons or arguments for the construction of the Panama canal.
<h3>The reasons for building the Panama canal are</h3>
- It would prevent warfare among competing countries
- It would lessen the distance, cost, and time it took for ships to carry cargo between the Atlantic and the Pacific Oceans
- It would eliminate the danger of earthquakes in Nicaragua.
Hence, in this case, it is concluded that the correct answer is "<u>it would allow ships to move swiftly from the Atlantic and the pacific in the event of a war."</u>
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In making the best economic choices, consumers compare the benefits of the choice to the cost of the choice.
<h3>
How to make the best economic choices?</h3>
In making the best economic choices, the costs of the choice should be compared with the benefits of the choice. The choice should only be made when the benefits of making the choice exceeds the cost of the choice.
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