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3 years ago

Explain the shift from artisan to factory worker, and discuss the factory system. What were the advantages and disadvantages

Business

1 answer:

Lerok [7]3 years ago

8 0

Explanation:

Note that an artisan is a person who uses his craftsmanship or craftswomanship to create products on a small scale that provide a small source of income. This shift occurred back in history during the Industrial Revolution which brought about so many inventions leading to a change in the production process. As the production process became more and more automated, former artisans became factory workers.

Advantages:

artisans were introduced into using efficient production equipment.
artisans earned paid employment

Disadvantages:

remaining artisan workers could no longer compete becauseof the mass production ongiong in factories.
factories became less concerned about the quality of goods, but of quantity.

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Attention is a .......... process by which a person focuses on a given target, while maintaining an awareness of background even

djyliett [7]

The correct option is TARGETED.
Attention refers to the behavioral and cognitive process of selectively focusing on a particular aspect of information while ignoring other perceivable information. Attention also relates to the limited capacity to process information that is under conscious control.

5 0

3 years ago

You are considering buying a company using leveraged buyout. The company is projected to have sales of 500 million each year in

worty [1.4K]

Answer:

Net income= $33 million

Explanation:

A leveraged buyout is a buyout of an entity by it's own managers/board members mostly through debt financing. Now the expected sales after the buyout is 500 million, we are asked to calculate net income only in the first year. First of all lets see what net income is. Net income is the remaining amount of income after having paid all the expenses which is mostly the residual income available for either distribution to shareholders or transfer to retained earnings.

The formula for net income is as follows:

Net income/profit= Sales revenue - COGS - Administrative expenses- depreciation and amortization - Interest expense - Tax

Let first calculate COGS & other administrative expense, depreciation and interest expenses first.

COGS & ADMIN: 500*0.6=300 m

Depreciation: 500*0.05 =25m

Interest expense for the year: 1500 * 0.08= 120m

Now lets substitute values in the formula mentioned above:

Income before taxes: 500m - 300m - 25m - 120m

Income before taxes: 55m

Income after taxes; 55m - 22m (taxes= 55*40%)

Net income= $33 million

4 0

4 years ago

Three Economic Concepts: Summary of your group discussion:

lesya692 [45]

Answer:

orange: scarcity, supply and demand, costs and benefits yellow: how do sanctions affect Russia's economy?, why are there sanctions in Russia?, who's or what's the cause of the sanction? blue: Russia could have issues with veto and passing laws. They had too much stuff to watch out for and needed more resources. Wanted to be smart with their decisions. (I tried my best sorry if I messed up somewhere forgive me :-;)

Explanation:

6 0

2 years ago

Cost Behavior; High-Low Method [LO2-4, LO2-5] Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The c

vova2212 [387]

Answer:

Y=4200+0.074X

At activity level of 80,000 kilometers total cost is $10,120

Explanation:

Variable cost=(cost at higher activity-cost at lower activity level)/(vol. at higher activity level-vol. at lower activity level)

cost at higher activity level=105000*0.114=$11,970

cost at lower activity level=70000*$0.134=$9,380

variable cost=($11,970-$9,380)/(105,000-70,000)

=$0.074

The cost function is Y=a+bX

where Y is total cost

a is fixed cost

b is the variable cost

X is the volume of output at a particular level of output

by substituting variable cost at higher activity level of 105000 units

$11,970=a+($0.074*105000)

$11,970=a+$7770

a=$11,970-$7,770

a=$4,200

Y=4200+0.074X

If 80,000 kilometers were driven during the year,the total cost is computed thus:

Y=$4200+($0.074*80000)

Y=$4200+$5920

Y=$10,120

5 0

3 years ago

Concord Corporation sells radios for $50 per unit. The fixed costs are $665000 and the variable costs are 60% of the selling pri

Bumek [7]

Answer:

Break-even point= 34,400 units

Explanation:

Giving the following information:

Concord Corporation sells radios for $50 per unit.

The fixed costs= $665000

The variable costs= are 60% of the selling price.

New costs:

Increase in fixed costs= 195,000

Variable costs will be 50% of the selling price.

First, we need to determine the new total fixed costs and unitary variable cost:

Fixed cost= 665,000 + 195,000= $860,000

Unitary variable cost= $25

Now, we can calculate the new break-even point in units:

Break-even point= fixed costs/ contribution margin

Break-even point= 860,000 / (50 - 25)

Break-even point= 34,400 units

6 0

3 years ago