designing and controlling the process of production and redesigning business operation in the production of goods and services.
Answer
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Explanation
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Answer: They raise the cost of pollution to discourage it.
Explanation:
Under the market oriented approach the forces of demand and supply determine the optimum quantity of a good and the price at which the good must be traded. The price gives us information on the relative scarcity of the good. When pollution is free, businesses will produce a large amount of it. However, when market oriented approach is used, the demand for pollution coming from the society as a whole interacts with the supply of pollution created by the various business and consumption activities. The intersection of this determines the price for pollution and the optimum quantity of pollution. Thus, pollution is not free anymore, it has a cost which is the price of pollution. Thus, the market oriented approach increases the cost of pollution to reduce the level of pollution.
Last in, first out (LIFO) is an inventory method which is better described as having a balance-sheet focus, as it is considered as such better approximates inventory cost necessary to generate revenue.
The Last in, first out (LIFO) method is used to place an accounting value on inventory. This method used to account for inventory records the most recently produced items as sold first.
Last in, first out (LIFO) method is only used in the United States where all three inventory-costing methods can be used. Thus, companies that use LIFO inventory valuations are typically those with relatively large inventories.
Hence, LIFO is a method used to account for inventory.
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