Property taxes on the factory building is an example of a committed fixed cost at Bennett, Inc.
<h3>What are committed fixed cost?</h3>
The costs necessary to maintain current production capacity are referred to as committed fixed costs or capacity costs. These expenses result from top managers' long-term choices regarding the scope and makeup of their firm.
committed fixed costs are essential for the efficient functioning of a business, and their absence may disrupt such operations, which could have a real effect on the organization.
For businesses, property taxes are a fixed expense. The taxes normally don't vary and are only adjusted for improvements in the value of the related asset or facility. However, property taxes typically remain constant from year to year.
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Answer:
1x : 1 6667y
Explanation:
Let :
unit of Rs. 60 per kg = x
Unit of Rs. 72 per kg = y
60x + 72y = 64.5(x + y)
60x + 72y = 64.5x + 64.5y
60x - 64.5x = 64.5y - 72y
-4.5x = - 7.5y
Divide both sides by - 1.5
3x = 5y
x = 5/3y
It could be mixed in the ratio ;
1x : 1.6667y
Answer:
D
Explanation:
Per capita GDP measures the standard of living of the people in a country. The higher the Per capita GDP, the higher the standard of living
Per capita GDP = GDP / population
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
South Korea operates a market economy compared with North Korea. A market economy leads to greater efficiency in production when compared with a command economy.
A market economy is an economy where production decisions are made by the forces of demand and supply. there is no intervention of the government in production decisions
Characteristics of a market economy
• Private ownership of means of production
• freedom of choice. Producers are free to produce what they desire
• competition among producers
• no government intervention.
A command economy is an economy where production decisions are made by the government.
