Economists are concerned with an individual's wants because wants because the existence of wants leads to scarcity.
<u>Explanation:</u>
Wants are the wishes of the human beings. It is the desire that is to be achieved by human beings. Every individual wants something in life for the survival. The wants of human beings has led to the technology advancements and discovery of many new things.
Wants are never ending things in human life. When something is achieved and there arises another want to be achieved again. This is to live better and this betterment will be never ending one, hence, economists view wants of individuals to lead to scarcity.
Conclusion: It can be concluded that opportunity for growth and promotion outside, compensation, working conditions, work timings/shifts, relationship with managers, location of the organisation, opportunity to use kills and work load are the major reasons for employee turnover.
Answer:
Explanation:
Answer:
19%
Explanation:
Calculation for what The internal rate of return on the investment in the tractor-trailer is closest to
First step is to calculate Factor of the internal rate of return (IRR)
using this formula
Factor of the internal rate of return(IRR)= Cost ÷ Additional Net annual cash inflow
Let plug in the formula
Factor of the internal rate of return(IRR)= $281,656 ÷ $76,000
Factor of the internal rate of return(IRR)= 3.706
Now let determine The internal rate of return on the investment
Based on the above calculation since Factor of the internal rate of return(IRR) for 7 years is 3.706 which means that the internal rate of return (IRR) will be 19%.
Or
The internal rate of return on the investment can also be calculated using below Excel formula
=RATE(7,$76,000,-$281,656)
IRR=19%
The internal rate of return on the investment in the tractor-trailer is closest to 19%
Answer:
$184,000
Explanation:
The computation of adjusted cost of goods sold is shown below:-
For computing the adjusted cost of goods sold first we need to find out the cost of goods sold which is here below:-
Cost of goods sold = Beginning inventory of finished goods + Cost of goods manufactured - Ending inventory of finished goods
= $39,000 + $188,000 - $47,000
= $180,000
Adjusted cost of goods sold = Cost of goods sold + Manufacturing overhead cost incurred - Manufacturing overhead cost applied
= $180,000 + $71,000 - $67,00
= $184,000
Answer:
Price index number can be defined as a measure of how the price of goods and services change over a specific period of time.
Explanation:
Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services. Thus, it refers to the amount of money a customer or consumer buying goods and services are willing to pay for the goods and services being offered.
Generally, the price a consumer (buyer) would pay for goods and services are primarily being set by the seller or service provider.
In sales and marketing, pricing of products is considered to be an essential element of a business firm's marketing mix because place, promotion and product largely depends on it.
Price index number can be defined as a measure of how the price of goods and services change over a specific period of time.
Hence, it's a statistical value (number) that is typically used for expressing the price change of goods and services as a percentage of prices in a base year.
On a related note, the consumer price index (CPI) is a measure used to analyze and examine the weighted average or aggregate of prices of a basket of goods and services paid for by consumers such as medical, food, and transportation.
