Answer:
DHow relevant your ads are
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Climate change and government action
Answer:
According to the law of supply, an increase in the supply of workers for a job if all other factors remain equal means the company wants to be efficient and it is also proof that the company is making more profit which signals the demand for the commodities they produced as increased drastically.
Explanation:
The law of supply work in the dimension of price, the number of goods available in the market, and it is hugely affected by demand. Now, when the price of goods decreases, it makes production by producers decrease as well and staffs are also laid off to avoid profit loss by the producers. This changes when the price of commodity increases as it makes producers of the commodity have the capacity to employ more staff to maximize time and this also causes the producers to increase sales. However, the higher demand for a commodity would also increase the supply of that commodity.
Answer:
An economic system is defined by the way scarce resources are distributed in an economy.
There are 4 types of major economic systems which are following;
- A mixed economy is an economic system, like its name is a mix of elements of planned economies, free markets with intervention of the state and public enterprises.
- A command economy is a system where the government is key decision maker of what goods and services will be produced and introduced by the economy.
- A market economy is the one in which the investment, production and distribution are dictated by the forces of demand and supply.
- A traditional economic system is a result of customs, history and cultural norms which include the rules and manner of their distribution as well.
Answer and Explanation:
The preparation of production budget is shown below:-
Weightless Inc
Production Budget
For the month ending October 31
Units Bath Scale Units Gym Scale
Expected Units to
be sold 150,000 90,000
Desired Inventory,
October 31 12,500 8,000
Total 162,500 98,000
Less: Estimated Inventory,
October 1 -18,000 -10,000
Total Units to be
produced 144,500 88,000
