A cycle or series of cycles of economic expansion and contraction.
Planning is made through a psychological process of rendered thoughts and ideas. Planning is important because for starters, it is a good way of gathering things in one’s mind and having mental organization. It is better to have things planned out than procrastinated because then, stress levels rise, efficiency is slower, and the accuracy of things that go on significantly depletes. Without planning, most of us would not survive because we would be so caught up in what is happening in the moment and how that affects us that we would not be able to process an idea or, as we’re referring to here, a plan. If you need any help, let me know and I will gladly assist you.
Answer:
Inventory at year-end: 344,000
Explanation:
The inventory should add the purchased goods from Pelzer as the possesion is transfer at shipping point.
The sales units to Alvarez should also be included as teh transfer is not complete yet. The term on this transaction are at destination.
Total inventory in transit: 28,940 + 39,800 = 68,740
on hand: $ 275,260
in-transit: $<u> 68, 740 </u>
Total: $ 344,000
Answer: Air travel is a normal good and vacation travel by car is an inferior good
Explanation: What is a normal good and what is an inferior good.
Normal goods are those goods for which the demand rises as consumer income rises. While inferior goods are goods whose demand increases when consumer income decreases.
This therefore means that the demand of inferior goods is inversely related to the income of the consumer.
From the question above, we can say that car trips are inferior goods while the air travel are normal goods.
