Answer:
related to the demand for the product or service labor is producing.
Explanation:
Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.
In Economics, there are four (4) main factors of production and these are;
I. Land.
II. Labor (working).
III. Capital resources.
IV. Entrepreneurship.
Labor refers to the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.
Generally, when these aforementioned factors of production are combined effectively and efficiently, they can be used for the manufacturing or production of goods and services to meet the unending requirements or needs of the consumers.
Typically, when economists say that the demand for labor is a derived demand, what they do really mean is that, this demand for labor is related to the demand by the consumers for the product or service labor is producing.
Answer: Debit Supplies
Credit Cash
Credit Accounts payable.
Explanation:
The journal entry is an act of making records of the transactions in an organization which shows the debit and credit balances of the company.
Based on the information given, since General Electric bought supplies in the amount of $1,500, the journal entry will be:
Debit Supply $1500
Credit Cash / Accounts Payable $1500
To determine the number of consumers which might prefer eating locally produced food, we simply multiply the metropolitan population by the decimal equivalent of the percentage given. That is,
= (1,773,120)(0.70)
= 1,241,184
Thus, 1,241,184 will most likely prefer the locally produced food.
Explanation:
Debt ratio is basically the ratio between the total debts and the total assets of a company. It shows the percentage of total debts of the company in accordance or in comparison of the total assets. If the debt ratio is high, it means the company has more liabilities than the assets. Higher debt ratio may lead a company towards default.
In this question, 101.5% debt ratio means the total liabilities of the company are 1.5% more than the total assets of the company. This shows that the company's debt ratio is high. Liabilities are more than the assets. In this situation, a company is considered at a risk if precautionary measures are not taken immediately.
Answer:
The correct answer is option D.
Explanation:
The use of plastic to produce bicycle helmets will reduce the amount of resources available to other industries that use plastic. If an industry is making helmets from plastic, they are using plastic as inputs in the production process. This will cause a reduction in the quantity of plastic available.
This plastic is used by other industries as well. They will experience a reduction in the resources available to them.