Answer: Exporting
Explanation: Export refers the process in which good produced in one country is purchased by some another country.
In the given case, Jerzey is using the method of counter trade for the purpose of exporting. In counter trade, the two firms exchange their product on the basis of their particular needs.
Thus, from the above we can conclude that the right answer is option D.
Cost-benefit principle would state that you would only take an action if the benefit outweighs the cost.
For example: It may cost me $5 to drive to work, but I make $50 for showing up, I would go because the benefit I get outweighs the cost and I am better off going than staying at home.
Answer:
$13,335
Explanation:
Required production in units for April and May are 6,500 units and 6,200 units respectively.
Direct labor hours needed is 0.15 for both months.
Total direct labor hours needed for each month would be;
April
= 6,500 units × 0.15
= 975
May
=6,200 units × 0.15
= 930
Direct labor rate per hour for each months is $7
Total direct labor cost for April would be;
= $7 × 975
= $6,825
Total direct labor cost for May would be;
= $7 × 930
= $6,510
Therefore, total direct labor cost for both months April and May would be;
= $6,825 + $6,510
= $13,335
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.
