Answer: Explicit costs , Implicit cost.
Explicit Costs is an Input costs that require an outlay of money by the firm. e.g (Paying for supplies, paying workers).
Implicit Costs is an Input costs that do not require outlay of money by the firm. e.g (Could be working somewhere else and making money but giving up the money you could be making because of where you work now).
Japan and other market-based economies enjoy economic growth, but also face greater risks due to deregulation.
As we can see some other countries which face slowing down in 2008. They also made some deregulation in the economy. Japan is a developed economy and has greater potential.
An example of deregulation would be if the authorities removed this regulation. So human beings are loose to put on or not put on the seatbelt without the chance of punishment. This additionally extends into the commercial enterprise international. For instance, the removal of the minimum wage might be an example of deregulation.
Deregulation is the elimination or reduction of government regulations in a specific enterprise. The goals are to permit industries to function as agencies more freely, make decisions efficaciously, and remove corporate restrictions.
Some argue that deregulation promotes economic increase by making it less complicated for agencies to do enterprise, growing loose-market opposition, and decreasing costs. Others point out that an excessive amount of deregulation can damage clients and their surroundings. Rules for agencies exist at each degree of the presidency.
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Average cost for a meal is $4.
<h3>
Formula:</h3>
Average cost = Total cost/ no. of goods produced
In this case:
Avg. cost = $600/150 = $4
<h3>What is Average Cost ?</h3>
- Calculating average cost, sometimes referred to as unit cost, requires multiplying the entire cost by the quantity of an item produced.
- The average cost has a significant impact on how much firms charge for their products. Average cost, sometimes referred to as average total cost or cost per output unit, is the price paid for an item (ATC).
<h3>How to find the Average cost ?</h3>
- We may calculate the average cost by multiplying the overall cost by the whole volume of output. By dividing the overall cost by the total output, one may get the average cost or production cost per unit.
- The long-term price and supply of a product are determined by the average cost. The typical cost includes normal profits.
- Therefore, if a commodity's price is higher than its average cost, the corporation will profit more. However, if the price is below the average cost, the business loses money.
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Answer:
$124,000
Explanation:
The maximum amount that Melody should pay to acquire 1,000 components is the total of all relevant costs directly attributable to manufacture the components. Such as;
Direct materials $68,000
Direct labor 30,000
Variable overhead 18,000
Fixed overhead 8,000
($20,000-$12,000) _______
$124,000
Answer:
Unrestricted international trade generally increases the overall prosperity of poor countries.
Explanation:
According to my research on free trade agreements, I can say that based on the information provided within the question usually free trade or Unrestricted international trade generally increases the overall prosperity of poor countries. This is because it removes import and export barriers and allows for new markets to develop and an inflow of cash to come into the country. This is why free trade agreements were created even though it sometimes has an opposite effect like bad working conditions, job loss, and economic decline for some countries but these are very situational effects.
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