Answer:
B. In JIT purchasing, raw materials (or goods) are purchased so that products are delivered just as needed for production or sales.
Explanation:
JIT stands for Just in time management. It is an inventory management approach that advocates for the purchase of materials just when they are needed for production. In JIT, there is no storing of materials for use for future production. The purchase of materials is aligned with the production process.
The success of JIT is dependent on management ability to forecast sales volumes accurately. Management must work with reliable suppliers to ensure that materials are available when required. JIT lower's the cost of inventory management by eliminating the need to store huge quantities of materials. It reduces wastage by doing away with losses that arise due to the storage of bulk materials.
Answer:
a) encourage people to search longer for a job.
c) prolong the amount of time a person stays out of work.
d) increase the number of workers looking for work.
Explanation:
Answer:
The Price of Cocaine would rise drastically
Explanation:
If U.S Drugs Enforcement Agency impose higher restrictions in an effort to control illegal import of cocaine into the United States, this would directly impact the market for illegal drugs in the following ways:
- Since more restrictions get imposed, the procurement cost of cocaine alongside the risk associated with it in the form of higher penalties and prosecution, both will rise.
- The supply of cocaine would shrink in the market.
- The above two outcomes would result into the procurers and peddlers demanding much greater price for the same quantity of cocaine so as to compensate for the higher risk assumed and higher procurement costs associated.
Thus, price of cocaine will rise drastically as an outcome of such a move.
Answer:
d. Continue production in the short run, but exit the business in the long run unless prices are expected to rise or costs to fall..
Explanation:
Currently, their sales revenue less variable cost is positive as it can sale at $1.50 dollars and the variables cost are less than that. Therefore, there are fixed cost thefirm can pay because it produce.
Now, in the long-run when the firm can exit the market it should consider to do so if it continues to get an average cost above the selling price.
Answer:
d. downward and cause output to decrease
Explanation:
As we know that
Aggregate demand = Consumption expenditure + government expenditure + net export
Where,
Net export = Export - import
In the case when there is a reduction in the consumer spending so it would be expected that the aggregate demand curve would be shifted to the downward due to which it results in reduction in output
Therefore the option d is correct
