Answer: Apart from the resources, there are three important factors for production, these are work (people or man hours available), investment (machinery and equipment needed) and organization (business planning).
Explanation: The first three factors were selected by the classical economy where Adam Smith and David Ricardo appeared, to these other organizational factors have been added, however their objective is the same, so that a company achieves the goals set, it has the task of combining these factors in the best way possible. Example: maximize man hours, use the best machinery, that the land or resources are prepared for production.
A service plate or a charger plate.
Answer:
The budgeted materials needed in units for April = 67000 litres
Explanation:
The budgeted production for April = 68000 units
The budgeted production for may = 64000 units
The cost of raw material per unit = $1.70 per unit
It is given that at the end of each month the inventory should be = 25%
The April 1 inventory = 17000 units
Now calculate the material required for April production:![= [ Materials needed + ending inventory requirements - beginning inventory available ]](https://tex.z-dn.net/?f=%3D%20%5B%20Materials%20needed%20%2B%20ending%20inventory%20requirements%20-%20beginning%20inventory%20available%20%5D)
![= [ 68000 + (64000 × 25%) – 17000 ] = 67000 Litres](https://tex.z-dn.net/?f=%3D%20%5B%2068000%20%2B%20%2864000%20%C3%97%2025%25%29%20%E2%80%93%2017000%20%5D%20%3D%2067000%20Litres)
Therefore, the budgeted materials needed in units for April = 67000 litres
Answer:
Price ceiling
Explanation:
The price ceiling means the maximum price that is charged by the supplier to the consumer. If is not affected so it is above equilibrium price and in case when it is below than the demand is greater than the supply.
So in the given question, it is mentioned that the prices of food are set low that are sufficient to meet the requirement represent the price ceiling example
