Answer:
A. $288
Explanation:
The cost incurred to produce or purchase the product which is being sold is called cost of goods sold.
Cost of Goods Sold = Beginning Inventory + Purchases in the period - Ending Inventory
Cost of Goods Sold = $152 + $492 - $356
Cost of Goods Sold = $288
Answer:
The correct answer is letter "A": Those who are unwilling or unable to pay for the good do not obtain its benefits.
Explanation:
The excludability feature of goods does not allow individuals to have access to them without having paid for them. Thus, non-excludable goods are those that no one cannot prevent its use. <em>Private goods</em> (clothing, vehicles, houses) are excludable but they are also considered rival goods since when one person uses it another individual cannot consume the goods.
Answer:
TRUE
Explanation:
We currently live in a globalized world. Globalization is an economic and political phenomenon that has transformed the relations of production and labor. The companies started to produce in countries where the labor is cheaper, becoming consequently more competitive. Thus, US multinational companies outsource the manufacture of components of their products in different territories. For example, an Iphone has components made in China, Vietnam and others. This makes the final price of the iphone lower around the world.
