The correct answer is D. Something of value that can be bought, sold, or traded
Explanation:
The word "commodity" is used in economics to refer to any good or product that has an economic value and due to this, can be part of the market. This means any commodity can be traded, sold, or bought. Moreover, this concept is mainly applied to raw materials such as coal, timber, or wheat that can be used to make other manufactured products such as plastics, furniture, or flour. According to this, the option that correctly describes the word commodity is option D.
Answer:
<u>A mid-level manager will get $5251.2 salary.</u>
Explanation:
Control Point = 1544 + 4.72 x Hay Point
=1544 + 4.72 x 600
= $ 4376 which is the mid-point of salary range in the market.
120% compa ratio means the actual salary given out is (120/100) times the market mid-point
Hence,
Actual Salary = ( 120 / 100 ) x 4376
= $ 5251.2
Answer:
a. There are significant differences in incomes between high- and low-income countries.
Explanation:
Data provided in the question
Per person GDP in Singapore = $53,591
Per person GDP in Egypt = $5,547
Based on the above information
As we can see that the level of income in Singapore is higher than Egypt also when there is an important difference in the high income and low income countries the same is shown accurately
hence, the correct option is a.
Explanation:
The computation is shown below:
Particulars Cost Per unit in ($)
Direct Materials $6
Direct Labor $2
Variable Overhead $1.5
Fixed Cost ($77000 ÷ 35,000 units) $2.2
Total Cost per unit $11.7
So,
1. He will buy the product as it is a saving of $0.7 ($11.7 - $11)
2) The most price willing to pay is $11.7
3) And, There is increase in income by $24,500 by multiply the 35,000 units with the $0.7 per unit in case of buying the part
Answer:
Rare resources
Explanation:
Rare resources are unique resources that is not controlled or possessed by many competing firms. Only a small number of competing companies control it. It usually stands out by being distinctive among the set of future competitors. Rare resources are short in supply and capable of persisting over an extended time, this makes it a source of competitive advantage for a company.
