<span>Economics is about allocating resources for doing which of the following processes involving goods and services? Production and Distribution. When </span>referringto economics, distribution is defined as how output, income and/or wealth is distributed among individuals or facts related to production. Both of these relate to one another and and involve goods and services to produce income.
Answer:
Total= $65,100
Explanation:
Giving the following information:
Wells Company reports the following sales forecast: September, $55,000; October, $66,000; and November, $80,000.
Collections of credit sales are received as follows: 25% in the month of sale, 60% in the first month after sale, and 10% in the second month after sale. 5% of all credit sales are written off as uncollectible.
Cash collection November:
November= 80,000*0.25= 20,000
From October= 66,000*0.6= 39,600
From September= 55,000*0.10= 5,500
Total= $65,100
Answer:
i) personal economic policies ii) marginal cost versus marginal benefit analysis
Explanation:
Marginal costs and benefits are an integral part of the economy as they help to calculate costs and benefits accurately at a particular production stage and usage stage.
An economic policy is an act that aims at influencing or controlling economic behavior.
At this stage John believes his decision will influence his economy positively and he sees more long-term benefits than costs for him if he plays professional sports rather than staying in college.
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Answer:
option D) While managers must understand how output prices are determined, determination of input prices is irrelevant because it is beyond the manager's control.
Explanation:
A price system is simply defined as a part of any economic system. It uses prices usually expressed in monetary form for goods and services valuation and distribution and also the factors of production.
A Pricing Manager helps to determine pricing schemes for firms products and services. The scope of work entailss co-ordination with production departments on cost of making and working with staff in marketing especially on appropriate campaigns and promotions and also they assist with pricing bargaining of customers intent.
Price Determination is getting or deriving the cost of goods sold and services offered/ rendered in the free market. The forces of demand and supply always determine the prices of goods and services in the market system.
