Answer:
True
Explanation:
Business plan software have proven to be of little value in its application. This can be attributed to the fact that softwares are standardized and do not have the flexibility to stray from the provided templates. Also, business softwares restricts the user from personalizing his or her business plans according to his or her business environment or location. Finally, software designed to create business plans do not allow users to review their written works. All these contributed in making softwares designed to help create business plans difficult to apply in every business situation, thus diminishes its value.
Answer:
B. Opportunity Cost
Explanation:
Comparative Advantage is when an economy can produce certain goods & services at a lower opportunity cost than other trading economies.
Opportunity cost is the cost of next best option forgone while choosing a particular option.
Comparative advantage (production ability at lower opportunity cost) implies: Economy can produce a good/ service by sacrifising lesser amount of other good, than the other economy.
Example : Production Possibilities of 2 countries, 2 goods :-
Good X Good Y Opportunity Cost (Goods Ratio)
Country A 10 30 1:3 (10/30)
Country B 5 10 1:2 (5/10)
Country A can produce Good Y by sacrifising 3 units of Good X, Country B can produce Good Y by sacrifising 2 units of Good X. So, B can produce good Y at lesser opportunity cost than A. Hence, country B has comparative advantage in good Y.
Answer and Explanation:
The preparation of the direct labor budget by quarters is presented below:
<u>GUNDY COMPANY
</u>
<u>
Direct Labor Budget, June 30, 2020</u>
<u> For the Six Months Ending June 30, 2020</u>
<u>
Particulars Quarter 1 Quarter 2 Six months</u>
Units
produced 5,210 6,500
Multiply
Direct labor
time per unit 1.5 hours 1.5 hours
Total
required direct
labors 7,815 9,750
Multiply Hourly
wage rate $15 $15
Total direct
labor cost $117,225 $146,250 $263,475
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Characteristics central to capitalism include private property, capital accumulation, wage labor, voluntary exchange, a price system and competitive markets.
