The study that tells about the production, usage and distribution of goods and services among the people of the nation is called the economy.
<h3>What is production?</h3>
Production is the process of making finished goods by converting them from its raw materials.
- Economy is referring to the study that describes the manufacturing, consumption and distribution of the goods and services among the citizens of the country. The field which studied about economy is called Economics.
- It could be inclusive of customers, business firms and the government. The customers are the ones who acquire the goods for satisfying his/her wants.
- The business houses are the entities that made the goods and then make it available in the market for sale to the customers. The government is the authority who regulate the equal distribution of goods to each and every people of the country.
Therefore, the economy is briefly explained above.
Learn more about the manufacturing process in the related link:
brainly.com/question/27908364
#SPJ1
I believe the correct word to fill in the blank is:
“Annually”
Forms which are used in medical practice and the
accompanying medical codes used must always be updated annually to make sure
that they are accurate and precise with regards to the latest practice in the
medical field. This is extremely important especially that we are dealing with
life and death.
Answer:A pair of sandals.
Explanation:Its so obvious stating that the marginal utility derived from sandals is higher compared to the other two items. You maximize your utility by going for the item with highest satisfaction which is glaringly sandals.
You also maximize your utility by considering the item which is economica prudent to one needs or want.
Answer:
Utility overvalued
Explanation:
According to economists, such people over value the utility they are meant to get in the future. They only want to get the entire satisfaction at a go because of the fear of not getting that food again in the nearest future.
Answer:
Sales 950,000
Less: Relevant cost:
Variable expenses 380,000
Avoidable fixed manufacturing expenses 217,000
Avoidable fixed selling and administrative expenses 178,000
Contribution 175,000
The total profit of Furrow Corporation reduces by $175,000 if the product is discontinued.
Explanation:
In this question, there is need to determine contribution, which is the excess of sales over relevant costs. Relevant costs are comprised of variable cost and avoidable fixed costs. The product should not be discontinued since the contribution is positive. Deleting a product with positive contribution reduces the total profit of the company by the amount of positive contribution.
