All categories

3 years ago

Use the following classification to determine which category each of the following goods falls into.

Business

1 answer:

valkas [14]3 years ago

5 0

Answer:

When a good is said to be Excludable, it means that it's access can be restricted to being used by only a certain number of people.

Similarly Non-Excludable is the opposite.

And when a good is said to be Rival in Consumption, it means that when it is used, it reduces the chances of other being able to use the good because it is being depleted.

Non - Rival means the opposite.

Public Goods

These goods are said to be Non-Rival and Non - Excludable. Their use by one person does not deplete it for another and it's access cannot be restricted to certain people.

Private Goods

These Goods are both Rival and Excludable.

Club Goods

These goods are Non-Rival in nature, but they are Excludable.

Common Resource

These are Rival goods but they are Not - Excludable.

Public swimming pools with free admission during summer. - Common Resource

Public Pools are rival goods because when they are used by people, the quality reduces and more treatment or water will have to be added to maintain it. It is Non-Excludable however because it is open to all with free entrance.

Flood control - Public Good

Flood control is a state sponsored program aimed at helping everyone in the country or rather the affected area. It is non-excludable and non-rival in nature.

Private security patrol with idle officers - Club Resource

This is a club resource because the security provided is non - rival in that it does not get depleted. However because they are private, they only protect certain people which makes it Excludable in nature.

Public basketball courts - Common Resource

Anyone can use Public Courts thereby making them Non-Excludable. However, the more people that use the courts, the more damaged it gets making it Rival in nature.

Flu vaccine - Private Good

Flu vaccines are Rival in Consumption in that every flu vaccine given to one person reduces the amount of flu vaccine available for others. It is also Excludable because not all people get it as it is free up to a certain age and then has to be paid for.

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The primary function of most media is to ________.

Tema [17]

Answer:

The correct answer is letter "D": provide information and entertainment to their audience.

Explanation:

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Answer:

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3 years ago

Which of the following is not one of the three most common core ERP components focusing on internal operations? A. Accounting an

viva [34]

Answer: Which of the following is not one of the three most common core ERP components focusing on internal operations? C. Business Intelligence

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4 years ago

McCarthy Industries has two sales territories-East and West. Financial information for the two territories is presented below: E

kirill [66]

Answer:

Decrease in income by $227,000

Explanation:

The computation of the amount of the change in the income in the case when the east territory is eliminated is shown below;

= -Sales + Direct cost + fixed cost - salary per year

= -$980,000 + $343,000 + ($450,000 - $40,000)

= -$980,000 + $343,000 + $410,000

= -$227,000

Hence, the amount of the change in the income in the case when the east territory is eliminated is -$227,000

Decrease in income by $227,000

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3 years ago

The Converting Department of Worley Company had 2,400 units in work in process at the beginning of the period, which were 35% co

irinina [24]

Answer:

Equivalent units

Materials = 12,700 units

Conversion cost = 11,940 units

Explanation:

Equivalent Units E.U) are notional whole units which represent incomplete work and are used to apportion costs between between work in progress and completed work.

Equivalent Units = Degree of completion (%) × units

We will use the weighted average method

Weighted average method

The weighted average method of valuation of work in progress does not separate opening work-in progress from the newly introduced.

Using the weighted average method

Equivalent unit for material cost

Since direct materials are added at the the beginning of the production process the equivalent unit of direct material

EU = (100% × 10,800) + (100% ×1900) = 12700

Note that 100% represent the degree of completion.

Equivalent unit for conversion cost

Item Equivalent unit

Transferred out 100%× 10,800 = 10,800

Closing inventory 60% ×1900 = 1140

Total equivalent unit = 11,940

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3 years ago