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2 years ago

Three basic decisions must be made by all economies. What are they?

Business

1 answer:

KiRa [710]2 years ago

5 0

Answer:

3 basics decision that need to made or taken by all the economies are

1. What to produce

2. For whom to produce

3. How to produce

Explanation:

The 3 basic decisions which should be made by the all economies are:

1. What to produce - Under this, the economies need to decide that what product or service they need to produce, which is liked by the consumers or purchased by the consumers so that they could sell their product in the market and earn profit out of it. In this, the economy need to take care of the needs or demand of the consumers and produce accordingly.

2. How to produce - Then the second decision is regarding how to the produce the goods or services, which the customers or consumers want as they have the limited resources available with them and from that they cannot produce all the products. So, they need to choose or decide.

3. For whom to produce or who consumes it - Under this, they required to take the decision regarding that for whom they are producing the goods or services whether it is a company or a consumer or economy.

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Piedmont Company segments its business into two regions-North and South. The company prepared the contribution format segmented

Oduvanchick [21]

Answer:

The Dollar sales break even for the company is $568750, for the north region is $320000 and for the south region is $80000.

Explanation:

1. for the company:

cont margin ration = contribution/sale

= 240000/750000

= 0.32

fixed cost = 182000

dollar sales break even = fixed cost/cont margin ratio

= 182000/0.32

= $568750

2. for the north region:

cont margin ration = contribution/sale

= 120000/600000

= 0.20

fixed cost = 64000

dollar sales break even = fixed cost/cont margin ratio

= 64000/0.20

= $320000

3. for the south region:

cont margin ration = contribution/sale

= 120000/150000

= 0.80

fixed cost = 64000

dollar sales break even = fixed cost/cont margin ratio

= 64000/0.80

= $80000

Therefore, The Dollar sales break even for the company is $568750, for the north region is $320000 and for the south region is $80000.

3 0

3 years ago

Your friend says to you, "America is one of the fairest countries in the world because we have a democracy, and we are able to v

professor190 [17]

Answer and explanation:

Democracy is the state in which individuals of a community make decisions collectively being the interest of most people prioritized. A pure form of democracy is difficult to find even in countries that highly promote equal rights such as the United States.

The Democracy Index is a composite that measures democracies in 167 countries scoring them from 1 to 10 (10 is the highest grade). In 2019, The U.S. was positioned in the 25th place in the list of most democratic countries. Norway is placed in the first place followed by Iceland.

In such a case, we should recommend our friend to take a look at the Democracy Index where he or she will find out that the U.S. is not one of the fairest nations in the world. Its government functioning and political participation are aspects where the U.S. needs improvement.

6 0

2 years ago

why it is so difficult to compare unemployment rates in the United States with unemployment rates in poorer countries?

GenaCL600 [577]

Answer: unemployment rate depends solely on the size of labor force and every country has different labor force sizes.

Explanation: https://coursepivot.com/tutor-answers/which-of-the-following-helps-explain-why-it-is-so-difficult-to-compare-unemployment-rates-in-the-united-states-with-unemployment-rates-in-poorer-countriesselect-the-correct-answer-below/#:~:text=Cross-country%20comparisons%20of%20unemployment%20rates%20is%20difficult%20to,and%20every%20country%20has%20different%20labor%20force%20sizes.

4 0

2 years ago

At Lequals86, Kequals90, the marginal product of labor is 8 and the marginal product of capital is 2. What is the marginal rat

Sidana [21]

Answer:

0.25

Explanation:

The marginal rate of technical substitution (MRTS) can be described as the rate of a reduction is one factor to maintain the same production level when another factor is increased.

Given that labor is measured on the horizontal axis, the MRST of K for L can be calculated as follows:

$MRST_{KL} = \frac{MP_{K} }{MP_{L} }$

Where;

MPK = Marginal product of capital = 2

MPL = Marginal product of labor = 8

Substituting the values into the equation, we have:

$MRST_{KL} = \frac{2}{8} =\frac{1}{4} = 0.25$

This implies that 0.25 of capital must be given up to have one unit of labor.

3 0

2 years ago

If Coca-Cola had all the human resources, operations, marketing, and accounting functions for the bottled water division at an o

astraxan [27]

Answer:

product

Explanation:

When a company is organized by product, it will structure its whole operation to cater to focus on that one product. This will include the way the arrange their production method, distribution strategy, marketing plan that they implemented, etc.

We can use coca-cola as an example.

They separate the office to cater specific products only. They do this to increase the efficiency of the production. Focusing only on one product will make it easier for the workers to understand the type of customers that they face in the market and the type of materials and production method that will be the most cost efficient.

6 0

3 years ago