Allocator- Price thus serves the function of allocator. First, it allocates goods and services among those who are willing and able to buy them. (As we noted in Chapter 1, the answer to the economic question “For whom to produce?” depends primarily on prices.) Second, price allocates financial resources (sales revenue) among producers according to how well they satisfy customers’ needs. Third, price helps customers to allocate their own financial resources among various want-satisfying products.
Real GDP this year using last year as the base year is
B) $700
Explanation:
- Last year, 10th DVDs were sold at $20 each and 5 DVD players were sold at $100 each, while this year 15 DVDs were sold at $10 each and 10 DVD players were sold at $50 each. Real GDP this year using last year as the base year is $700.
- Gross Domestic Product (GDP) is the monetary value of all finished goods and services made in a country during a specific period of time.
- The Gross Domestic Product calculates the real value of economic activity within a country.
- GDP is a number that shows the net worth of the output of a country in local currency.
- It represents the value of all goods and services produced in a specific time period within a country's borders.
- Gross domestic product (GDP) is the total value of everything produced in a country.
Answer:
Explanation:
One of the main risk factor associated with male infertility would be none or few sperm cells being produced. It has been stated by scientists that about 1% of all males and 10–15% of those with infertility do not have any sperm within their system. Therefore making the possibility impregnation impossible.
Answer:
d. Specific identification method.
Explanation:
The specific indentification method relies on the specific categorization of the ending inventory, by attaching the date or purchase and the exact cost to every item of the ending inventory.
As it can be seen, the method is very accurate, because it can give the real value of ending inventory at the end of the year. However, it is also very time-consuming and difficult to keep up with, and for this reason most companies only use this method for items that are valuable, or that can be easily categorized in a specific date and price.
Most companies use other inventory valuation methods like LIFO, FIFO, and weighted average.
Answer:
B. each customer's reservation price.
Explanation:
Reservation price is the highest amount a buyer would be willing to pay for a good or service.
I hope my answer helps you
