Answer:
C
though all had the 4p elements only c had a chance to build the business
Question Completion:
Choices: Rapid improvements in transportation and communication; the production of goods for a cash market; and the use of inventions and innovations to produce goods for a mass market.
Answer:
The condition that helped to establish the foundation for a market revolution in the United States is:
Rapid improvements in transportation and communication
Explanation:
Rapid improvements in transportation and communication spurred innovations. With innovations, capitalism was born. Innovations needed factories for mass production. In turn, according to American History, "factories and mass production increasingly displaced individual artisans and farmers," who survived at subsistent levels. Large farms grew and produced crops for distant markets, no longer only for family and local markets. Most of the crops were further processed, packaged, preserved, and shipped through cheap transportation systems like the Erie Canal, using steamboats. And the rest, they say, is history.
Answer:
B. people respond to economic incentives.
Explanation:
Economic incentive is material given by someone, that is capable of motivating the other person to behave or act in a certain way. If economic incentives come from a government, it can be in form of tax incentives, subsidies or any monetary gift in form of cash or near cash.
To the economist, human being being rational, will respond to economic incentives in various forms.
Answer:
$45,400.
Explanation:
The cost for the year will be the sum of the three main cost component:
the direct materials added
the factory overhead applied
and the direct labor cost
<em>Cost Incurred during the year:</em>
direct materials 12,800
factory overhead 5,800
Direct labor 26,800
<u>Total cost added (or ncurred) during the month: 45,400</u>
Beginning WIP 50,600
Total cost to be accounted for 96,000
Ending WIP (37,300)
Cost of goods transferred out 58,700
Answer:
D) Canada since the cost per unit of output will be lower.
Explanation:
A German worker earns $6 per hour with a X productivity, we can assume X = 10 units, so the labor cost in Germany = $6 / 10 units = $0.60 per unit
A Canadian worker earns $10 per hour with a 2X productivity, we can assume X = 10 units, so the labor cost in Canada = $10 / 20 units = $0.50 per unit
Canadian direct labor is 20% more efficient than German labor.
