<span>The financial crisis in Greece is described as
depression rather than recession is because the Greece’s economy had taken a
severe and sustained economic downturn. Greece’s economy has been marked by a
substantial and sustained shortfall of the ability to purchase goods relative
to the amount that could be produced. Depression is a more severe form of recession.
Recession lasts a few months, while depression lasts longer. </span>
Answer:
15
Explanation:
PV= 214
rate of return 10%
(10+1)^1
11+3= 14
214/14= 15.2...= <u>15</u>
Answer:
a. 136.93 units
b. $2,783.60
c. $2,783.63
d. 60 units
Explanation:
a. The computation of the economic order quantity is shown below:
= 136.93 units
b. The annual holding cost is
= Economic order quantity ÷ 2 × holding cost per order
= 136.93 units ÷ 2 × $40
= $2,738.60
c. The annual ordering cost is
= Annual demand ÷ economic order quantity × ordering cost per order
= $2,500 ÷ 136.93 units × $150
= $2,738.63
d. The reorder point is
= Demand × lead time + safety stock
where, Demand equal to
= Expected demand ÷ total number of days in a year
= 2,500 ÷ 250 days
= 10
So, the reorder point would be
= 10 × 6 + $0
= 60 units
We simply applied the above formulas
Answer:
price ceilings; shortage
Explanation:
Price control is defined as government imposed prices to regulate the way forms make profit in the market. Take for example if a product is in high demand and firms can raise prices very high to make profit. To protect the consumer the government will set a price ceiling to limit price increase.
In Venezuela when price ceilings were implemented the sellers will create artificial shortage which forces the consumer to buy at higher prices in a black market arrangement.
