Average income is important because it tells us the income of an average person and gives an idea about the rising standard of living of people.
Average income is basically income earned per person in a given area in a specific year. More income means more money to fulfill your needs and wants. It is believed that the prosperity of a country depends on it. Money is considered an important factor in the development of a country. If the average income of a country increases there are chances of an increase in the development of that country. If the average income is lower there are fewer chances of development.
A country with high average income is considered rich and low average income country is considered poor. The World Bank also uses the average income to measure the development of any country. Therefore average income is considered a very important criteria for development.
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Answer:
The gain on retirement = $4,600
Explanation:
The gain or loss on retirement = Carrying Value of the Bonds - Call price of the Bonds
The gain or loss on retirement = $111,100 - $106,500
The gain on retirement = $4,600
Note: Par value will not be taken for the calculation of the above
The marginal productivity of the first hour of studying is 15%.
<h3><u>
What is Marginal Productivity?</u></h3>
- The additional output, return, or profit generated per unit as a result of benefits from production inputs is referred to as marginal productivity or marginal product.
- Raw materials and labor are examples of inputs. According to the rule of decreasing marginal returns, the marginal productivity will normally decrease as production rises when a production element is improved.
- This indicates that for every extra unit of output produced, the cost advantage often decreases.
- Diminishing marginal productivity is often recognized in its most straightforward form when a single input variable exhibits a drop in input cost.
- For instance, a reduction in labor expenses during the car-manufacturing process would result in slight increases in profitability per vehicle.
Formula for Marginal Productivity = (Qn – Qn-1) / (Ln – Ln-1)
The total product value is divided by the difference in labor to determine the marginal product of labor.
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Answer:
Consumers help determine what goods and services will be produced through their purchasing decisions. I think :)
Explanation:
Answer:
<u>external report</u>
Explanation:
Note that, the manager prepared a report which he later presented to the stockholders of the company; meaning he gave the report to an outside party.
Remember, external reports are usually given to investors to know the financial condition of the company. Thus, the shareholders would need the report in order evaluate the financial condition of Fazer Technologies Inc.
