1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
gregori [183]
3 years ago
13

Which statement is false about the circular-flow diagram? A. Money flows in the direction opposite to goods and services and fac

tors of production. B. Money flows from households to firms as households offer factors of production for sale. C. Firms are the primary suppliers of goods and services. D. Households are the primary demanders of goods and services.
Business
1 answer:
Minchanka [31]3 years ago
3 0

Answer:

B. Money flows from households to firms as households offer factors of production for sale

Explanation:

The circular-flow diagram (or circular-flow model) is a graphical representation of the flows of goods and money between two distinct parts of the economy:

i)  market for goods and services, where households purchase goods and services from firms in exchange for money;

ii)  market for factors of production (such as labor or capital), where firms purchase factors of production from households in exchange for money.

Based on this definition, we can see that money doesn't flow from household to firms as households offers factor of production for sale but the other way round meaning firms are the one that offer money in purchase of factors of production from household.

You might be interested in
Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe. Schell has a
kenny6666 [7]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Schell has a total of $39,060 in overhead.

Direct labor hours:

Standard= 400

Deluxe= 200

Machine hours:

Standard= 4,150

Deluxe= 3,000

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

1) Direct labor hours as allocation rate

Estimated manufacturing overhead rate= 39,060/600= $65.1 per direct labor hour

Now, we can allocate to each product line:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Standard= 65.1*400= $26,040

Deluxe= 65.1*200= $13,020

2) Machine hour as allocation rate:

Estimated manufacturing overhead rate= 39,060/7,150= $5.46 per machine hour

Now, we can allocate to each product line:

Standard= 5.46* 4,150= $22,659

Deluxe= 5.46*3,000= $16,380

7 0
3 years ago
A company purchased a commercial dishwasher by paying cash of $4,200. The dishwasher's fair value on the date of the purchase wa
kogti [31]

Answer:

$4,760

Explanation:

The value a company will record for the dishwasher will be the amount that was used to purchase the dishwasher plus the associated cost of transporting and installing the dishwasher.

The price of the dishwasher to be used is the actual amount it was bought and not the fair value.

Amount recorded for dishwasher= Price + Transportation + Installation fees

Amount recorded for dishwasher= 4,200 + 330 + 230

Amount recorded for dishwasher= $4,760

Note the fee for illegal parking is not considered because it is not a direct cost related to purchase of the dishwasher

5 0
3 years ago
In Free Market Environmentalism, economists Terry Anderson and Donald Leal write, "Subsidized irrigation encourages farmers to b
Soloha48 [4]

Answer:

b

Explanation:

7 0
3 years ago
Customers are likely to be less price sensitive when:A. it is easy to compare prices.B. someone else pays the bill.C. the total
My name is Ann [436]

Answer:

Letter E is correct. <em>Their share of the cost is hig</em>h.

Explanation:

Price sensitivity is characterized by consumer behavior in relation to the price of a product or service.

The degree of price sensitivity can be measured using the price elasticity of demand, which is the study of the percentage change in the amount of demand for a good or service divided by the percentage change in price.

Some variables may affect consumer behavior, price sensitivity may be higher when there are many substitute products and lower when the consumer values ​​a higher quality good and <u>when its profitability is higher compared to the total cost of the product. </u>

3 0
3 years ago
Southern Markets has sales of $78,400, net income of $2,400, costs of goods sold of $43,100, and depreciation of $6,800. What is
Helen [10]

Answer:

36.35%

Explanation:

According to the scenario, computation of the given data are as follows,

Sales = $78,400

Net income = $2,400

Cost of goods sodl = $43,100

Depreciation = $6,800

So, we can calculate the EBIT value by using following formula:

= EBIT ÷ Sales

= ($78,400  - $43,100 - $6,800) ÷ ($78,400)

= $28,500 ÷ $78,400

= 36.35%

Hence, the common-size statement value of EBIT is 36.35%

3 0
2 years ago
Other questions:
  • Entrepreneurship is: A. managing businesses for others.B. a controlling interest in the ownership of a corporation.C. managing b
    14·1 answer
  • Helen, a manager for Marshall Manufacturing, spends much of her time reviewing the global, technological, socio-cultural, compet
    9·1 answer
  • Anna Prentice has worked for years fixing broken typewriters. She is laid off from her job as fewer and fewer people use typewri
    8·1 answer
  • The UCC permits terms to be added into a contract or filled in as gap fillers; however, a contract between merchants cannot be e
    6·2 answers
  • Suppose that a negative externality is created by the production of good X. Which of the following statements is correct?
    11·1 answer
  • As the difference among computer manufacturers in the areas of price and performance narrows, support for green computing is eme
    9·1 answer
  • The Tool Box needs to purchase a new machine costing $1.46 million. Management is estimating the machine will generate cash infl
    14·1 answer
  • An arrangement in which brokers pool their listings and all commissions are divided between the listing broker and the selling b
    11·1 answer
  • On June 30, 2018, the Esquire Company sold some merchandise to a customer for $48,000. In payment, Esquire agreed to accept a 9%
    15·1 answer
  • Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information for its year end
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!