"Economies of scale can be achieved by international expansion because a company can lower its average unit cost, better utilize its production facilities, and increase its bargaining power with suppliers."
An economy includes all activities involved in the production, consumption, and trade of goods and services within an entity, whether that entity is a country or a small city.
No two economies are alike. Each is trained according to his or her own resources, culture, law, history, and geography. Essentially, economies work by distributing scarce resources among individuals and institutions.
A series of markets where goods and services are traded, backed by capital, come together to form an economy. These networks exist at the local, national and international levels.
With a GDP of $23 trillion, the United States is by far the world's top economy in this ranking for 2021. It is followed by China in second place with a GDP of $17.7 trillion. Canada is also far ahead in international comparisons and ranks 9th in this ranking.
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Answer: Whether a particular cost is classified as direct or indirect does not depend on the cost object - <u>FALSE. BECAUSE "A particular cost may be direct or indirect, depending on the cost object".</u>
A direct cost is one that can be easily traced to the particular cost object -<u>TRUE.</u>
The factory manager’s salary would be classified as an indirect cost of producing one unit of product.<u> - TRUE.</u>
A particular cost may be direct or indirect, depending on the cost object. <u>- TRUE.</u>
Answer:
c. 2.71, and supply is elastic.
Explanation:
The formula to compute the price elasticity of supply is shown below:
Price elasticity of supply = (Percentage change in quantity supplied ÷ percentage change in price)
where,
Change in quantity supplied is
= Q2 - Q1
= 100 t-shirts - 75 t-shirts
= 25 t-shirts
And, an average of quantity supplied is
= (100 + 75) ÷ 2
= 87.5
Change in price is
= P2 - P1
= $20 - $18
= $2
And, the average of price is
= ($20 + $18) ÷ 2
= 19
So, after solving this, the price elasticity of supply is 2.71
Answer:
Ccccc
Explanation:
Journal entries
Apr. 1
Dr Cash 18,360
common stock 18,360
Apr. 1
No entry
Apr. 2
Dr Rent expense 918
Cr Cash 918
Apr. 3
Dr Supplies 1,326
Cr Accounts payable 1,326
Apr. 10
Dr Accounts receivable 1,938
Cr Service revenue 1,938
Apr. 11
Dr Cash 714
Cr Unearned service revenue 714
Apr. 20
Dr Cash 2,856
Cr Service revenue 2,856
Apr. 30
Dr Salaries and wages expenses 1,532
Cr Cash 1,532
Apr. 30
Dr Accounts payable 306
Cr Cash 306