I just finished this quiz and the answer is "marketing"
Answer: Its average total cost will decrease as production increases
Explanation: Variable cost will decrease as a result of economies of scale, therefore the cost/unit or average total cost will decrease.
Answer:
$0.51
Explanation:
The computation of the predetermined overhead rate. The formula is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
where,
Estimated overhead costs for the year is $25,000
And, the estimated direct labor cost would be
For Totes
= $52 × 500 units
= $26,000
For Satchels
= $65 × 360 units
= $23,400
So, the total direct labor cost would be
= $26,000 + $23,400
= $49,400
Now put these values to the above formula
So, the value would equal to
= $25,000 ÷ 49,400
= $0.51
Answer:
D: College Students
Explanation:
FBLA is for High School, so that means that Phi Beta Lambda is for College. Higher level
Answer:
Economic models like the circular flow diagram are not physical models, but instead are diagrams or graphs or even mathematical equations that represent economic patterns or theories.
d) circular flow diagram
Explanation:
Economic models are a form of theoretical construct that consists of economic variables and quantities and the relationships between them. The relationship between the construct forms a basis for hypothesis for economic behavior. Economic models can be used to observe, understand and predict economic behavior. There are different economic models such as;
1. Specialization Model
This is a type of economic model where more attention is given to the production of specific goods and services for better efficiency in terms of time, cost and quality.
2. Financial capital market
This is a type of financial market that provides a platform for the buying and selling of capital in the form of long-term debt and securities. They basically act like a bridge between those who have capital and those who need the capital.
3. Financial investment market
This is also another type of financial market that provides a platform where financial assets and it's equivalent can be traded for the sake of investment. They include; stocks, bonds and assets.
4. Circular flow diagram
This is a type of visual representation that illustrates how money and commodities of trade move in an economy. It is a type of economic model that uses diagrams to represent economic patterns and theories.
