Answer:
Possible causes of material quantity variance:
1. The use of sub-standard material
2. The use of unskilled labour
3. Wastage of material
Explanation:
Material quantity variance is the difference between standard quantity and actual quantity used multiplied by standard price. The use of sub-standard material reduces the quality of output thereby resulting to unfavorable material quantity variance. The use of unskilled labour also leads to unfavorable material quantity variance. Wastage of material due to low quality of inputs also results to unfavorable material quantity variance.
Answer:
A. the double coincidence of wants problem.
Explanation:
Trade by barter involves the exchange of goods and services for goods and services without the use of money as a medium of exchange. In barter system, there is what we call double coincidence of wants. This is the economic situation whereby both parties holds what the other wants to buy, so they exchange the goods directly. Here, both parties agrees to buy and sell each other commodities. However, if one of the party is not interested in what the other party is offering, it causes a disruption in the trade. This disruption refers to a drawback in the system like the example described in the question.
Here, Andy couldn't make a deal with Danny even tho he wants what Danny is offering. This is because what Danny isn't interested in what Andy is offering. Thus, the double coincidence of want and barter trade can't occur between the two parties.
Answer:
It might be because of an increase in efficiency in the workforce or advances in technology. Hope it helps :)
Explanation:
I think this is an example of self-serving bias. This is the tendency of people to attribute positive outcomes to personal factors, but attribute negative outcomes to external factors such as other people. The reason people have this tendency because personalizing success or positive outcomes helps their self-esteem.
Answer:
C. discouraging businesses from borrowing money from banks.
Explanation:
The discount rate is the interest rate imposed on commercial banks when they borrow from the Federal Reserve ( the Fed). The banks borrow from the Fed to meet their short-term cash flow requirements. The discount rate is usually higher than the inter-banks rate (the Fed funds rate). An increase in the discount rate automatically pushes the inter-bank rate higher.
The interest rate that commercial banks charge their customer for loans is pegged on the Fed funds rate, which is also the inter-bank rate. An increase in the discount rate will translate to a rise in the bank's interest rates for loans. Businesses and household will reduce their appetite for credit when interest rates go up. A high discount rate is a deterrent to borrowing from the banks.
